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Restoring Confidence In Capital Markets...
... Will not commence by looking at this chart of the existing market structure. Behold our fragmented, and as many say thoroughly broken, market structure.
All we need is one big seller to appear now that the 10 Year is pricing in a Great Depression, something stocks have so far been virtually immune to, and the Flash Crash will be right back. Our advice to readers is to have GTC bids 30% away from current price levels "just in case."
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Lulz. Truly. I'm not turned on by women with tattoos, but I think if I ever met a women with "ZH" tattooed on her hindquarters, well, my marriage could be in trouble.
....and a Marla, "Fuck you, terminal esophageal carcinoma is mine!" look?
oh take me home please!
Yea? Well Im absolutely NOT giving up blood parasites!
speaking of parasites and also of the topic of this post, the nyt has an interesting article on three judges (different cases) who basically chastised the u.s. government's handling of violations by some big banks and told the govt to try again. a refreshing check (or balance, i have a hard time distinguishing).
Not to worry... :-)
Our PhD friends over at Sog Gen will now submit 100% "accurate" reportable transactions instead the usual (upto) 20%.
http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/135.shtml
The bids (if accepted) will later be cancelled because they were "good trades" and the market only allows for bankers and brokerages to make a profit...which consequently our whole economy is based on?
are you saying this is not perfect?
30%?
i already have a few GTC orders in 50% below. although, those were set with S&P over 1100....so, i should go revisit those.
May 6 was a test run and we were told 60% in the threshold.
Gotta be careful. At 50% they'll probably be 'revised' or cancelled after another flash crash. What level did orders stand at during the last flash crash?
Don't think it will work in your favor when they decide trades need to be undone/redone etc.
It's as if everyone is trying to give this bitch the heave ho over the cliff!
"Get out while you can. To the exit, now. There is smoke, fire, explosions. Move!!!!"
And it feels coordinated and engineered. Why is the media supporting this, now when they had the capacity to report on all of this two years ago? They want it now. Even ZH is falling for it.
Shit.
How much does Timmay have left to issue into the end of the year?
"Why is the media supporting this, now when they had the capacity to report on all of this two years ago?"
QE II....it's gonna be THAT big so they need equity folks to be THAT scared into THAT many bonds
I feel stupid. Of course. Thanks, that actually helped a whole lot.
A crisis is a terrible thing to waste
LOL!! My comment was in jest Miss. :) Don't you teach finance & economics at the graduate level? Perhaps some of the folks here are unaware.
Boy I better clear that one up fast. I don't. I am a professor in the social sciences at a state university. But not econ. Meanwhile, I do use the materials (the case of economic collapse) as fodder for classroom lectures. I am an ethnographer.
My mistake, sorry. :) You have great insights into this financial mess we are living through. I would imagine your life's work helps with this... people's behaviors and the markets gyrations usually go hand in hand. Thanks for your contributions, they are always read and appreciated here in Mordor.
I am flattered. I rely on the kindness of strangers here in terms of working through my ever evolving world view on the economy. I think you have as much insight as I do, highly probable it is more, you are more "in the game" than me. We can hash it out together from our different perspectives, or just not feel like we are nuts/alone.
"And it feels coordinated and engineered"
it sure does.
if a bear shits in the woods and no one sees it, but the smell lingers, does it still attract flies?
I get more of an "oh that corpse." vibe, as if the refuge of denial were no longer an option due to the incrasing knowledge about the Emperor's state of dress (for anyone but Beck....he's gone on perma-vacay).
Add the rather startling upswing in Au and Ag, which I haven't seen ever since I dipped my toes into that market. Also add the fact that the Fed openly printing money...again.
It sort of feels like the time I heard ol' Rummy blather on about 2.3 trillion bux that just went missing...
You have the coolest name by far.
Yeah, but shouldn't the "e" be an "a"?
Yes. And will he/she change it if his/her RE value comes back up, hypothetically, of course?
If everyone is waiting for it, it wont happen. That will be good for the fall elections. After that, when no one is looking, pow, biff, bam, crash!!
No it's not. It was actually pretty hidden. Remember when I said that the consumer would retrench in july. It's like a suicide note. Trying to cover it up would be stupid. Everyone will listen except leo maybe.
Hey, Missy, you could be on to something. Note how "dark pools" are over represented in the graph. Each of those could be broken down into its own graph even larger than the original source graph. That's the scary part. What's actually going on? I'll wager that we never know what hit us.
Why? The SEC will just cancel any retail orders that get filled at 30% discounts and end us up in a net short position just as the market comes back... only Supplemental Liquidity Providers get to keep those fills.. of course, they also get to pull all their bids to make sure it happens in the first place.
Bring back the Central Limit Order Book.
Who thinks the "competition" outlined in the above graphic has made a better market?
I thought this was a statistics related joke...
How many futures did the Fed buy this morning? I see some proping going on before the release of New Home Sales.
Ah HA! I didn't see GS anywhere on that list! I knew they were clean all along!
Yeah, you and Chemba.
Sigma X
And bats. The bats are definitely goldman.
it seems to make money, i only have to wear this Tshirt...dont need no markets anymore...http://www.omway.com/
I bet Mc Guyver could fix it with a piece of cloth, a empty bottle and a littre of gasoline and a lighter
Step 1: put the gasoline in the empty bottle
Step 2: put the piece of cloth in the opening of the filled bottle.
Step 3: light the piece of cloth with the lighter
Step 4: If you just performed step 3 and you're still reading this... good luck...
How hard would it be to create a human friendly exchange? The likelihood of reforming the existing web of corruption is slim to none.
No robots allowed!
60% down was what the NYSE needed to protect the co-located players.......this next blast of carnage should be hilarious.
I heard a bear shit in the woods once.... I didn't see it and didn't smell it but I heard it.....
Sticking feathers up your ass does not make you a chicken.
COME BACK SOON
http://williambanzai7.blogspot.com/2010/08/come-back-soon.html
IS IT SAFE?
http://williambanzai7.blogspot.com/2010/08/is-it-safe.html
http://www.perfecteconomy.com/pg-post-revolution-attempts-to-impose-usury-succeed-in-the-unconstitutional-deceptions-of-the-federal-reserve-act.html
"And so prosperity surges not as a product of a currency subject to interest, but as permitted by a circulation. A circulation which can only multiply debt can only destroy the original conditions, which are subject to the least proportions of debt. Eventually the inherent, irreversible multiplication of debt by interest once again terminates a lifespan of usury.
It is a naked lie to claim achievements within the system of deprivation benefit from its deprivation. Only a currency free of interest permits full, unimpeded prosperity. Only a circulation free of interest, inflation and deflation frees a society from adverse manipulation.
Witting subjects rectify their deprivation. Sheep wait for whatever hand their usurers will deal them.
Theirs is a system no intelligent society would ever authorize.
In fact, no intelligent society ever has."
http://www.youtube.com/watch?v=FyW3M-UTIWM
I guess they want to crash it all before "Inside Job" comes out in October.
Well I hope it actually does get out in wide spread release so everyone can see it.
Thanks for such a great post and the review, I am totally impressed! Keep stuff like this coming!...
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