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

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Fri, 02/05/2010 - 16:46 | 219632 malusDiaz
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Where is the info on the 401k Decission?!?!


I've read the article:



Fri, 02/05/2010 - 16:48 | 219637 Anonymous
Anonymous's picture

they were buying in the pit as well

Fri, 02/05/2010 - 18:20 | 219797 Brett in Manhattan
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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.

Fri, 02/05/2010 - 18:49 | 219858 Anonymous
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.

Fri, 02/05/2010 - 19:30 | 219928 Anonymous
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.

Sat, 02/06/2010 - 12:46 | 220446 Anonymous
Anonymous's picture

You are both pompus jackasses.

Fri, 02/05/2010 - 19:37 | 219939 1TAAT
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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.

Fri, 02/05/2010 - 19:59 | 219956 Anonymous
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.

Sat, 02/06/2010 - 17:59 | 220724 Anonymous
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.

Mon, 03/08/2010 - 02:38 | 257494 Anonymous
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.

Fri, 02/05/2010 - 16:48 | 219638 Hephasteus
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Oh look. Theres the dicktators now.

Fri, 02/05/2010 - 16:49 | 219642 deadhead
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gee, wonder if someone had the consumer credit number a little earlier?

Fri, 02/05/2010 - 16:49 | 219643 Bear
Bear's picture

What is the definition of MANIPULATION?

Fri, 02/05/2010 - 17:03 | 219694 Cistercian
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 Resistance is futile.

Fri, 02/05/2010 - 16:50 | 219649 Bear
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sell sell sell

Fri, 02/05/2010 - 16:50 | 219645 Chopshop
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in Clint whisper ~ bang.

Fri, 02/05/2010 - 16:50 | 219650 Anonymous
Anonymous's picture

UBS bought 8.1 million shares too?

Fri, 02/05/2010 - 16:52 | 219653 Cyan Lite
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The time says 12:33.  A little bit early, eh?

Fri, 02/05/2010 - 16:56 | 219663 Tyler Durden
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Pacific Time

Fri, 02/05/2010 - 22:16 | 220088 TheGoodDoctor
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Don't you mean Plunge Protection Time?

Fri, 02/05/2010 - 16:58 | 219669 assumptionblindness
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Yeah, but that image was only page 1 out of 57. 

Fri, 02/05/2010 - 16:56 | 219658 pak
pak's picture

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

Or has somebody's software gone crazy?

Fri, 02/05/2010 - 21:01 | 219659 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

So JPM likes my stocks and gold hmmmm?


Fri, 02/05/2010 - 16:56 | 219661 assumptionblindness
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SURGEONS GENERAL WARNING:  Shorting this market has been determined to cause Tourette's syndrome in ortherwise healthy traders.   

Fri, 02/05/2010 - 16:59 | 219671 Cistercian
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 Epic hilariousity!

Fri, 02/05/2010 - 16:56 | 219662 MsCreant
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.

Fri, 02/05/2010 - 17:05 | 219700 AndItsGone
AndItsGone's picture

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

Fri, 02/05/2010 - 17:19 | 219723 Yophat
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April 19, 2010 - Cast your vote!!!

Fri, 02/05/2010 - 17:26 | 219745 SWRichmond
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Fri, 02/05/2010 - 18:31 | 219815 MsCreant
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The Mafia are amateur hacks compared to the US Government and these financial houses.

Fri, 02/05/2010 - 17:19 | 219722 Hephasteus
Hephasteus's picture

Keep going. You're doing good.

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

Fri, 02/05/2010 - 18:18 | 219793 faustian bargain
faustian bargain's picture

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

Fri, 02/05/2010 - 18:29 | 219813 MsCreant
MsCreant's picture

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

Fri, 02/05/2010 - 18:14 | 219785 Ripped Chunk
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.

Fri, 02/05/2010 - 18:33 | 219822 MsCreant
MsCreant's picture

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

Sat, 02/06/2010 - 19:14 | 220776 Anonymous
Anonymous's picture

I totaly concur MsCreant.

Fri, 02/05/2010 - 16:58 | 219670 Eternal Student
Eternal Student's picture

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

Sat, 02/06/2010 - 08:00 | 220307 Anonymous
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...


Sat, 02/06/2010 - 20:39 | 220826 mynhair
mynhair's picture

is that manipulation? hardly...


And now to the 'secret' meeting in AussieLand.

Not manipulation, just insider trading.

Fri, 02/05/2010 - 21:03 | 220017 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+1.5 quadrillion.

Fri, 02/05/2010 - 17:02 | 219689 lizzy36
lizzy36's picture


Fri, 02/05/2010 - 18:41 | 219834 ghostfaceinvestah
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.

Fri, 02/05/2010 - 22:15 | 220086 Master Bates
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...

Sat, 02/06/2010 - 01:06 | 220190 Anonymous
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 .

Sat, 02/06/2010 - 03:04 | 220244 Anonymous
Anonymous's picture

All absolutes are false.

Fri, 02/05/2010 - 17:02 | 219690 Hondo
Hondo's picture

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

Fri, 02/05/2010 - 17:03 | 219695 faustian bargain
faustian bargain's picture

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

Fri, 02/05/2010 - 17:05 | 219699 lsbumblebee
lsbumblebee's picture

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

Fri, 02/05/2010 - 17:05 | 219704 Moe Gamble
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.

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