Thank You JPMorgan - MUST SEE: JPM's ETF Desk Ramps Market Higher Into Close

Tyler Durden's picture

As can be seen on the SPY IOIA screen below, JPM's ETF desk singlehandedly manages to push market higher. It is unknown if this is for prop positions (yes Senator Corker, we know it when we see it), or flow (JPM is RenTec's. and many other quant funds' Prime Dealer) is unknown. What is known is that JPM indicates every single SPY offer was lifted by its sage trader.

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malusDiaz's picture

Where is the info on the 401k Decission?!?!


I've read the article:



Anonymous's picture

they were buying in the pit as well

Brett in Manhattan's picture

This shows the inherent contradiction of Floor Traders. They're supposed to add liquidity, but they always go with the trend, adding to the disequilibrium.

Anonymous's picture

Brett, as a former stock-index futures floor trader you have absolutely NO IDEA what you are talking about. More often than not, floor traders get absolutely KILLED on trend days like today ( into the close ) because they got caught short when taking the "other" side of the strong order flow and were not able to cover (or hedge using other instruments) fast enough.

Anonymous's picture

I doubt you were ever a floor trader because you cannot even recognize that today was not a trend day. We just had a ramp after 3:00pm into the close. Most floor traders would have covered somewhere into the ramp and jumped on to the buying orderflow.

Anonymous's picture

You are both pompus jackasses.

1TAAT's picture

I agree with 'Anon' 219858. It wasn't that complicated this afternoon. That last swoon down to 41 was the final stop run. Not much volume down there, and you could see the shorts begining to cover(although I did think the easy 1047 for -100 was going to hold, I guess the extra 5 pts was for good measure). Remember this is -105 pts down from the highs in just over a week. That is pretty impressive.

Once again, when you build a market on overnight, light volume/manipulation, is it any surprise, that the same market can crash much faster? Good luck out there, and I for one am just estactic that we have more than a 5 pt range day.

Anonymous's picture a former NY MERC and NYBOT floor trader, the only trend days a floor trader catches are when the 4 to 8 guys who you never see in your market pop into the ring within minutes of each other, with their bag men there jumping the order, and start executing a large order. From past experience you know they buy until the bell sounds. Unless the floor sees the equation as always, they are not joining paper.

Anonymous's picture

The exchanges exist to make the members money, be they members on the floor or members that deal in the product. That is why they have fought electronic trading for over 20 years. The floor traders are NOT there to add liquidity for the public. A good number of brokers kick back the floor brokerage fee to the account exec to have the orders to rip-off.

The corruption on the trading floors is still rampant and neither the SEC, CFTC, FBI, or congressmen of the districts care as they all sat silent to complaints. Unless you are nailing someone on the floor who is the equivalent to George Clooney as an actor, there's no press in it for them. I know because I spent over 20 yrs in the WTC's 8th floor trading and each time I tried on a committee to get compliance to do its job the proposal was voted down. I saw cases pulled from being looked at by the Business Conduct Committee because a VP on an exchange, who just happened to use someone's condo, yanked it. The statues have long passed on that and the culprit is too stupid to operate a computer and needs not trade anymore. There's good money in selling your soul.

For every guy who has made millions down there, the investor in Peoria ( a town often cited for America) likely contributed his fair share. There are very few good traders, so they default to ripping off orders because they aren't leaving the place as the private sector doesn't pay the 80%+ down there with only a HS diploma six and seven figures.

When you see a "Mr Top Step" talk about "stops above/below the mkt" it would be nice to see an FBI agent enter the picture ask how he is aware of those orders. Ripping off orders is EXACTLY what RICO laws were enacted for - a criminal enterprise. I can't cite the law against divulging orders, but it's there.

Do guys get nailed? Some do over the years, but very, very. VERY few. Preston Semel walked around with his ass missing rear-end like he was the king of the gold pit, until he was taken down. Charlie Federbush was more subdued, but they nailed him too. That was back in the mid-80s. Heard of any big cases since then?

The floors should be done away with completely. They have made multi-millionaires out of some guys who should be asking you if you parked the red Ford or the green Toyota. That's not to say the big houses off the floor are innocent. They deserve to have their phones calls required to be submitted as records to the SEC and the CFTC.

I don't know if the other gentleman was a floor trader. But I wouldn't mind a wager on whether I was. I'm just posting this anonymously as thieves get really indignant when they hear you are calling them what they are.

Anonymous's picture

Funny thing is that Preston semel was the king of the gold pit and probably one of the best traders to walk the floor. I had the honor of working for him and let me tell you besides being the best broker he was the best when it came to trading for himself he was consistantly able to catch half of the daily range in any market. But I guess when you bust your ass and build up the biggest floor brokerage business from nothing, its guys like you who probably ratted everybody out because he realized his college degree got him bent over and bleeding because he should have been a teacher.

Hephasteus's picture

Oh look. Theres the dicktators now.

deadhead's picture

gee, wonder if someone had the consumer credit number a little earlier?

Bear's picture

What is the definition of MANIPULATION?

Chopshop's picture

in Clint whisper ~ bang.

Anonymous's picture

UBS bought 8.1 million shares too?

Cyan Lite's picture

The time says 12:33.  A little bit early, eh?

TheGoodDoctor's picture

Don't you mean Plunge Protection Time?

assumptionblindness's picture

Yeah, but that image was only page 1 out of 57. 

pak's picture

Well, JPM is NY FEd's Prime Dealer, too..)

Or has somebody's software gone crazy?

Mr Lennon Hendrix's picture

So JPM likes my stocks and gold hmmmm?


assumptionblindness's picture

SURGEONS GENERAL WARNING:  Shorting this market has been determined to cause Tourette's syndrome in ortherwise healthy traders.   

MsCreant's picture

My rage burns brightly. Let the whole population feel like I do right this minute and this motherfucker will burn and we won't care about shit: eating be damned, power be damned, shelter be damned. Nothing matters because all of it is built on treachery. I don't want to live this way.

If only my rage were enough to make it stop, we would be done with this, I assure you.

AndItsGone's picture

The government of the United States is an illegitimate criminal enterprise.

Yophat's picture

April 19, 2010 - Cast your vote!!!

MsCreant's picture

The Mafia are amateur hacks compared to the US Government and these financial houses.

Hephasteus's picture

Keep going. You're doing good.

Next we do neptune. Then work out way to uranus.

faustian bargain's picture

All the same I'd prefer if you stay away from my anus.

MsCreant's picture

I agree. Poor taxpayer faust, and all of us, so sore.

Ripped Chunk's picture

The energy is out there. It just needs to be organized and directed.

My hate for these criminal bastards used to have a color. I could see it, like a reddish orange hue. Now it is just a white hot blast of hate.

MsCreant's picture

Your avatar is pretty spot on, I suspect. Art is not always pretty.

Anonymous's picture

I totaly concur MsCreant.

Eternal Student's picture

Thanks, ZH. I was wondering what the heck was going on. And no one else is reporting this stuff.

Anonymous's picture

reporting what stuff?

that some large buyer came in?

is that manipulation? hardly...

is that investigative reporting? no, its just simple information available from BB...


mynhair's picture

is that manipulation? hardly...


And now to the 'secret' meeting in AussieLand.

Not manipulation, just insider trading.

lizzy36's picture


ghostfaceinvestah's picture

lizzy, why would you find it unbelievable, surely you remember that day last spring when the s&p spiked 15 points in 2 minutes, 15 minutes before the close?

Today's action smells just like that day; blatant market support by the PPT.

Today was a sign for me, and that sign was "all clear to buy gold".  The money printing is going to really crank up now, and gold is going to go ballistic.

Master Bates's picture

Once upon a time, there were stochastics.  The stochastics were oversold severely.
Then people bought the stochastics at the bottom and we made a lower high again.

I don't seem to think that this was necessarily a PPT action.  I mean, maybe JPM was just massively short SPY...

That UBS block of SPY looks more sinister to me than all the JPM blocks...

Anonymous's picture

this explosion today is the beginning of the 5 in a 335 b-wave manipulation ...just nature ....look at the charts... head and shoulders all over the freaking place ,short the top for a mighty c wave down...any time you witness an explosive rise that makes little sence it is the finalle to a b wave .

Anonymous's picture

All absolutes are false.

Hondo's picture

It's really criminal......the sad part is the government is the criminal.

faustian bargain's picture

I would probably be really mad if I understood how to read this.

lsbumblebee's picture

That's nice. Now the Ministry of Truth can blare the headline "Stocks up as unemployment rate falls".

Moe Gamble's picture

This is quants. WTI caught a bid from the continuous-contract-watching civilians at $70 (low volume), and nobody who knows what they're doing is selling until the retest Monday. WTI moving up triggered a quant bid in SPY. The selling will resume Tuesday when WTI starts to sell off again.