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Rule 48 Invoked, Time For NYSE To Make This Permanent Whenever VIX Is Over 30

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Fri, 06/04/2010 - 09:11 | 394330 doomandbloom
doomandbloom's picture

is ZH hosting their website on the NYSE server? 

Fri, 06/04/2010 - 09:13 | 394338 TeddyRoosevelt
TeddyRoosevelt's picture

i think they figure if people are trading, their people get the morning off.

Fri, 06/04/2010 - 09:13 | 394339 bingaling
bingaling's picture

That should confuse the computers while they are flash crashing all day

 

Fri, 06/04/2010 - 09:13 | 394341 saulysw
saulysw's picture

Businessweek explains...

 

"Rule 48 suspends the requirement for market makers to send pre-opening indications, or bid and ask prices developing in auctions used to determine a stock’s opening price. The regulation is used “only in those situations where the potential for extremely high market-wide volatility would likely impair floor-wide operations at the exchange,” NYSE Euronext said in an e-mail today."

Fri, 06/04/2010 - 09:15 | 394348 Duuude
Duuude's picture

 

Wonder if they shut down tha HFT Boyz...

Fri, 06/04/2010 - 09:14 | 394345 JohnKing
JohnKing's picture

GS needs more time to get on the right side of the action.

Fri, 06/04/2010 - 09:18 | 394364 TeddyRoosevelt
TeddyRoosevelt's picture

well, they just released rosey SP targets out 18 mo, so i'm sure they're JACKED short the market... this is just their friends at nyse expediting the trading profits.

Fri, 06/04/2010 - 09:25 | 394393 wiskeyrunner
wiskeyrunner's picture

Indeed

Fri, 06/04/2010 - 09:16 | 394352 Cheeky Bastard
Cheeky Bastard's picture

HA!

Nice call man. 

Fri, 06/04/2010 - 09:16 | 394353 Cognitive Dissonance
Cognitive Dissonance's picture

Only so many rats can fit through the exit door at any one moment.

Rule 48 means the fat rats are allowed out first before the ordinary rats get their chance at salvation before the Titanic slips beneath the waves.

Fri, 06/04/2010 - 09:30 | 394415 bingaling
bingaling's picture

your right I got it backwards - but are there actual people trading this market ?

Fri, 06/04/2010 - 10:07 | 394491 MyFriendMises
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Plenty of people are trading but only fools are investing.

Fri, 06/04/2010 - 09:16 | 394355 lizzy36
lizzy36's picture

can you hear that? 

liquidity being sucked out of the market.

Fri, 06/04/2010 - 09:21 | 394376 centerline
centerline's picture

I was wondering why my ears just popped.

Fri, 06/04/2010 - 10:57 | 394656 Cognitive Dissonance
Cognitive Dissonance's picture

That elevator drop is a bitch.

Fri, 06/04/2010 - 09:17 | 394361 saulysw
saulysw's picture

Is there a historical precedent here? I am wondering how unusual this event is...or how bad an omen it might be.

Fri, 06/04/2010 - 09:22 | 394385 JLee2027
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4th time recently.

Fri, 06/04/2010 - 09:18 | 394365 williambanzai7
williambanzai7's picture

What a crock of shit! Its ok for the computers to bang you all day long, unless they need a time out.

Fri, 06/04/2010 - 09:32 | 394420 No Hedge
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GAME OVER bitches

Fri, 06/04/2010 - 09:53 | 394450 EscapeKey
EscapeKey's picture

We believe in free markets except for when we don't.

Fri, 06/04/2010 - 14:17 | 395380 Hephasteus
Hephasteus's picture

When I'm winning we can play. When I'm losing we have to have a time out. Agreed. Ok go.

Fri, 06/04/2010 - 09:19 | 394370 centerline
centerline's picture

Takes a few minutes to re-align the skynet algo's when actual sellers show up.

Fri, 06/04/2010 - 10:34 | 394568 ranrun
ranrun's picture

nice

Fri, 06/04/2010 - 09:22 | 394381 Shocker
Shocker's picture

Wait a sec, so the markets are more corrupt than they already are... Don't believe it

Fri, 06/04/2010 - 09:22 | 394382 SWRichmond
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In Putin Russia, Ponzi market open you!

Fri, 06/04/2010 - 14:17 | 395383 Hephasteus
Hephasteus's picture

LOL

Fri, 06/04/2010 - 09:23 | 394386 jkruffin
jkruffin's picture

Looking at the new pictures of the oil leak,  it looks like its worse now.

Fri, 06/04/2010 - 09:54 | 394455 EscapeKey
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Source?

Fri, 06/04/2010 - 09:23 | 394387 PierreLegrand
PierreLegrand's picture

 "All animals are equal, but some animals are more equal than others."

Fri, 06/04/2010 - 10:39 | 394582 Sir Vivore de A...
Sir Vivore de Apocolypse's picture

I think I'm going to read animal farm again because of this comment. I bet it applies better now than it did in 1995 when I last read it.

Fri, 06/04/2010 - 09:24 | 394388 Rider
Rider's picture

Market maker punks are allowed to run to the exit first, ladies and kids first you punks.

Fri, 06/04/2010 - 09:28 | 394402 Kataphraktos
Kataphraktos's picture

Bids and offers on SP emini are in the hundreds - expect a "rally".

Fri, 06/04/2010 - 09:32 | 394414 Kataphraktos
Kataphraktos's picture

.

Fri, 06/04/2010 - 09:35 | 394433 Mitchman
Mitchman's picture

Down 174 at the opening.

Fri, 06/04/2010 - 09:35 | 394435 wiskeyrunner
wiskeyrunner's picture

You can sure see in the Time & Sales how they dial back the speed. It's like slow motion, to hold off any real selling. Hey thats manipulation.

Fri, 06/04/2010 - 10:03 | 394479 firstdivision
firstdivision's picture

We are getting some odd bounces for such a dismal report.  Either the Algos are putting up a fight, or every CNBC employee was ordered to double down going long.

Fri, 06/04/2010 - 10:14 | 394506 Alfred E. Newman
Alfred E. Newman's picture

the euro is at 1.203 and the gold prices is bouncing like a rabbits heart beat.

Fri, 06/04/2010 - 10:16 | 394512 sumo
sumo's picture

VIX is hovering around 32. I was expecting a much bigger spike.

Eurozone default risks don't matter today?

 

Fri, 06/04/2010 - 10:21 | 394526 Strider
Strider's picture

CNBC its either "off the lows of the day" or buy the bottom bounce . There is no down direction in their vocabulary....Waterboard 'em I say.

Fri, 06/04/2010 - 10:30 | 394549 The Rock
The Rock's picture

The PPT in full effect. Yeahhhhh boyyyyy!

/sarcasm off. For those fuckheads that don't get it.

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