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Dark Knight Capital... Again
Wondering why something appears very off in the market? Blame Knight Capital ... Again. Is second time the charm to finally take out the competition? KCG stock crashing.
Self-help?
Dear Clients:
Due to a building emergency (power issues), Knight Capital Americas is asking you to seek an alternate destination for the order handling and execution of your OTC, Options and Listed orders until further notice.
All computer interfaces with Knight will be shutdown with no new orders, both by phone or electronic, being accepted at this time.
Please continue to e-mail Help@Knight.com with any questions.
Thanks
Tonya Walker, Managing Director
The brokers are already on it:
Dear Valued Client,
As per Knight’s request below, please route away from Knight. If a client routes an order to Knight, the order will be rejected by our system. Information on existing orders will still flow back from Knight.
If you have any questions or concerns, please feel free to contact us.
Regards,
InstaQuote |Bank of America Merrill Lynch
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I had thought they already folded.
lol
REJECTED ... they say!
More like Marvel Comics every day
WTF? They don't have gennies?
Or, someone forgot to test the plan.
“More like Marvel Comics every day”
A new super-villain has emerged to wreak havoc on financial markets and economies..
Toxic chemical and radioactive waste in the sediment of the Hudson River stirred up by the surges of Sandy have mutated a single indigenous fish who was feeding on the remains of a Wall Street wise guy in cement overshoes at the bottom and spontaneously mutated into a half fish, half vicious criminal with super human powers now hell bent on attacking the computer and data communication assets of Wall Street.
The Wall Street wise guy was a quant working for the Fed who was silenced because he was about to blow the whistle on the huge house trading operation and now, reincarnated as a supervillian, he has a score to settle.
Enter .. The Naked Goby
http://www.dec.ny.gov/lands/74069.html
Hell yeah they got gennies, they're under 5 - 10 feet of water..
Working as designed.
The Joker, "You know where I can find kevin Henry? I need to talk to him about something... Just something"
LIGHTS OUT!!
oppa, oppa, trading Gangnam Style, Gangnam Style.
Knight - just finding different ways to be "under water".
Yes, I felt something was amiss this morning. I always feel that way when all 3 indices trade down.
Ooops, they did it again.
WTF? Is Britney Spears prego again? Is this the HuffPo?
No, Nicki Minaj and Mariah Carrey are BFF again,
OMG rily?
Yah, rly.
Alright, which one of you guys were slumming it again?
Fess up.
With an alias like yours, you'd better hope so. ;)
TURN THOSE MACHINES BACK ON!!!
Get those brokers back in here!!!
Brokers:
Funny name for people who are hired to make money.
Don't get confused - they're hired to make you go broke!
'The leads are weak!'
'The leads are weak? Fuck you, YOU'RE WEAK!'
/GGGR
'You see this watch?'
Who would downtick Shelley Levene ?
Must have been that greasy chap with the Rolex -- Blake, from Mitch & Murray.
"Sir, our software has not been tested for this level of liquidity" Technical Support.
Maybe when they restored backups after the power outage, the backup image had the test software on it again. Oops.
I hadn't thought of that, but yeah, entirely possible.
I think turning them back on after last time is the problem.
This "market" will be lucky to make it through year's end.
Yahoo Finance is running a poll right now. "What will the long-term impact of Hurricane Sandy be on the American economy?" Only 17% of people think the impact will be negative. Talk about complacency.
It's denial.
Break moar windows!
That youtube of 14th street Con Ed going Tesla? that was Krugman's nuts exploding.
Seriously, my neighbor is a foreman with Con Ed. Was in the control center when the transformers blew. He said no one was hurt (no one is allowed close to those coils or whatever they are). Anyway they all knew it was a matter of time because the water rose up to the level of the same switches that should have shut it down ie all safety gear got submerged and rendered inoperative. The 14th street transformers blew in succession, cascading in a chain reaction that then took out all substations from battery (already shut down) up to the 30s, hence the blackout below 40th.
And BTW, how about that Jwsh Lightening that struck Breezy Pt? Anyone who knows the environs, and the crowd that has been insinuating itself there knows what I am talking about.
They knew what to expect within a foot, I was watching the storm surge go up and up. Plenty of warning, why didn't someone shut it down before the damage happened? Its now a much bigger repair job. If it had been shutdown it would have been a dewatering issue with limited equipment damage. Now they've got massive equipment damage.
No one had the guts or the smarts to shut the system down despite knowing it would self destruct before high tide.
krugman kensianism at its worst
The river in Egypt?
Krugmanites and their broken windows.
That yahoo poll just shows you how pervasive the Keynesian Broken Window fallacy has become.
And why we are doomed.
How can we trust these people to elect leadership?
What a clown show.
I get from not using an exclamation mark that you are not particularly impressed.
Good lord...when are these ridiculous "computer liquidity firms" simply going to be shuttered? Seriously...when is the criminal syndicate known as Wall Street going to rediscover that without integrity, their markets are simply gone?
When they have all been reduced to smoking heaps via spontaneous combustion......and not a moment sooner brother Cdad.
Agreed, brother Cog...the buildings are in flames, and the idiots inside them are on the phones, trying to buy upside Netflix calls...from guys in other buildings that are up in flames. It has been ridiculous for all these crash intervening years...and is no less ridiculous today.
Good grief [and by that I mean...just pink slip ALL bankers already so that we can attempt to simply restart the whole damn industry]
"just pink slip ALL bankers already so that we can attempt to simply restart the whole damn industry"
If Mordor is destroyed, why would anyone want to rebuild it?
When ?
When their "enablers" ( i.e., "clients" ), once and for all, terminate their business relationships with "Knighty-night." Indeed, one would think, with respect to Knight's seaworthiness, clients would by now realize, "What's past is prologue."
As an aside, Fidelity routes through Knight Capital -- the Great White Whale of "enablers."
The system is down.
Strongbad?
Computer error.
Idiots in.....idiots out.
I/O, I/O, they're out of orders you know...
(think dwarves)
Nice!
That's what I call the Gold and Silver mining stocks.....dwarves. The minor miners (GDXJ for example) are <of course> mini dwarves. :)
Crazy trades everywhere,everywhere! Knight will have to sell these to GS again for clearing.
TD I was reading a trading alert and mkt service.. he was just copying and pasting text from ZH! and then forwarding it. lol Some characters out their in newsletter land.
Send him this link:
http://www.zerohedge.com/donate
Knight riding cluster fuck.
Time to call the Hoff......
OT .. google: looting
getting ugly out there in NYC
but. but. but.
Doesn't Das Fuhrer Bloomberg have his Army at the ready?
Remember that guys like Gerald Celete and Bill Flekenstine got fucked in the MF Global deal ?
Funny how these guys don't practice what they preach..
I wonder how many of these guys are getting fucked by Knight Cap
apples to oranges. besides, celente was trying to buy physical gold... the criminals have rigged the system so thoroughly that you must go through the system to get anything, even physical gold... and in so doing, you are very vulnerable.
Dave: Open the pod bay doors, HAL.
HAL: I'm sorry, Dave. I'm afraid I can't do that.
Dave: What's the problem?
HAL: I think you know what the problem is just as well as I do.
Dave: What are you talking about, HAL?
HAL: This mission is too important for me to allow you to jeopardize it.
They are going looting for lunch.......
Oh well knight, we gotta keep on trying for those algos that are still alive...
These guys really rock!
Computers switched on => Disaster
Computes switched off => Disaster
KCG lasted much longer than I thought it would.
Precious metals trading opposite of equities... I wonder if this is the start of something.
Hard to manipulate the markets when the computers are soaked in salt water ?
A teacher is talking to her class of kids and asks "What does you're father do for a living? You, little john, you go first"
Little John stands up and says "Miss, my dad works for a whore house. He says he fists women all day while popping pills and smoking crack".
The teacher is understandably alarmed and phones the father up straight away. "Now listen sir, you're little boy John has told me exactly what you get upto in your job, and fisting women is a despicable act"..............
"now listen", said Johns dad, "I have to lie to him, he is just a kid. How the hell can I tell him his dad is an investment banker?"
:-)
O/T Did you catch this one yet Tyler? Last months ADP report revised down to 88.2K from 162K
Here is the ADP link. Ref; http://www.adpemploymentreport.com/
No need to dwell on the past. Forward!
/sarc
Warning! Biohazard!
Biden: 'I'm Going to Give You the Whole Load Today'
www.weeklystandard.com/blogs/biden-im-going-give-you-whole-load-today_659899.html
And the Democrats were worried about Palin....
As long as the Fed can get in for the 3PM ramp, everything will be fine.
I thought it was due to power, "Due to a power issue on our site we will be shutting down and will let you know when it is up."
lol
All computer interfaces are down...
I'll bet all messages to Help@knight.com are routed to /dev/null
Seems like all the B-team IT staff is manning the fort today:
ADP Prematurely Posts Major Downward Revisions To September Jobs Numbers:
http://www.adpemploymentreport.com/docs/ADP_NER_Report_Details.pdf
More clusterfuck. This is no bull market. I recall lots of systems crashes just before the collapse in 2000.
Or maybe I'm wrong, there is no debt, no understated unemployment, no depression....and Bernanke is actually a fembot.
Is there a possibility that their software didn't malfunction, but got owned by someone with faster access? They're running out of retail investors to feed off of. Since they operate over small changes, could a program manipulate the price point to cause another program to buy then sell repeatedly. It may not have been directed at them, they may have been the system that responded first. The feeding frenzy where they start eating each other.
Someone's job has prematurely ended...
Make them a bank overnight and then shower them with unlimited money just like they did with Goldman. Nobody that's big and has connections fails according to Bernanke and the Fed.