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VIX Halted
UPDATE: Minutes after we brought attention to this farce, VIX Futures and Options Re-Opened...
CBOE's VIX Futures and Options have been halted since 1337ET.
Because in our day and age of highly "sophisticated, precise and computerized" trading, just what stock market crash can take place without a critical component of the market breaking...
Based on 'spot' VIX - it would appear vol is bleeding higher
Bottom line: when the Fed can no longer sell enough vol to offset a long-overdue correction, the Fed will merely do away with vol entirely.
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In Amerika, nothing go down. No?
1337 = LEET
in nerd speak....
Even better, it's LEET-ET.
and, something new everyday,
in our day and age.
Angry Republican's letter to Clint Eastwood, and General Wesley Clark on the coup in the US government.
http://dearmreastwood.weebly.com/
Sure. It's all Dirty Harry's fault.
god hates mormons
Why, Dirty Harry didn't make his day?
Wesley Clark is a weasel. I'm not going to listen to a thing he says.
Hard to argue with it, quite honestly. Romney always had a credibility gap because he's a bankster. Also, the association with the Mormon cult, while it's not truly awful like some kind of Satan-worshipper or Neo-Nazi, it isn't really a great thing, either.
I saw that too. Is that bad that I was psyched when I noticed it?
Exactly, someone just hacked the exchange. a 1337 haxor... I'm guessing loosely affiliated with Anonymous. hahahahahha! That's funny. Imagine, an algo computer hacked by someone like that, reprogrammed... that would be entertaining.
Has anyone heard from AnAnon today?
I can hear him chuckling: "Who laughing now, round eye."
pods
Looks like it is frozen again at 19.00. Weird gaps earlier today too. Someone creating 100M shares of TVIX out of thin air?
not the women, no
We're all living in America,
America is wunderbar.
We're all living in America,
Amerika, Amerika.
"Amerika" by RAMMSTEIN
LOL, free and efficient markets.
Well that's it, no more volatility.
Precisely! On that note let's just stop printing the unemployment numbers so we can keep under 8% forever and ever...
Well clearly the president can survive without those (real) numbers, the question is, can the market hold itself together if options on an index of options on an index of stocks aren't trading because futures on an index of options on an index of stocks aren't trading.
Nicely dictated. And I think that you are on to something. Maybe it became consious and trying to grasp it's very existence it broke. Badly. SkyNet will resume it's function.
After reading Mercury's post I am having a blonde moment there!
Huh? WHAT "unemployment" ? We´re all duly Employed as Serfs now...
Got to be kidding me. I have NOV calls. Bunch of fucking crooks.
Free markets are so efficient you do not need to be concerned about volatility. You also do not need to be concerned about fraud.
Surprised face
- -
-
Living on hope but change is coming.
True that.
You can ignore reality but you cannot ignore the results of reality.
Should help the close. Nice. Throwing every trick in the book to create a nice bear trap.
The way is shut. It was made by those who are dead, and the dead keep it. [/Return of the King]
Manipulated volatility in the volatility???
the volitility was too volitile, so it had to be halted.
Must have used a Ven to Verify the Velocity of the Volitility of the Vix's Volititlity Volume.
VA-VA-VA-VOOM!
What's the financial term for the rate of change for change/volatility? For physics the rate of change for acceleration is "jerk". Accepting all legitimate and comical answers below.
Chaikin's Volatility function, but I propose we change it to " chokin' " (though "suck" would work too).
http://www.tradingsolutions.com/functions/ChaikinsVolatility.html
This is hilarious! Just like when they banned shorting stocks a few years ago. I can't wait for the upcoming rule that you can only buy if the trade will result in a gain for the seller - That's only fair!!!!!!
> I can't wait for the upcoming rule that you can only buy if the trade will result in a gain for the seller
Mary Schapiro called. She wants to know what the license fee is for this idea.
Fee? That idea belongs to the People, unununium.
You didn't build that fee. Someone else made that fee happen.
The VXX derivative was probably about to melt down.
I sense wisdom .
Ahh thanks but I wouldn't go that far. I've officially taken a long position on two RGIII rookie cards... LOL...
cool ones though, with the autograph.
I got my sell orders in place already on my VXX calls. The melt up may only last 8 minutes.
"...due to a systems problem."
Well alrighty then. At least we're not in the dark as to what the specific problem is that forced them to halt an INDICATOR.
It's good that they halted volatility, because that will likely lead to zeee stability.
/s
(Bernank'd Markets ftl)
As systems engineer it could also mean someone accidently bumbped the reset button as i walked passed, but somehow I don't think so......perhaps they can blame it on a terrorist minority or some middle east country whose oil we want?
Next, let's have markets with no price action. Price is a problem, we don't need no stinking price. Besides, only terrrrists use price.
Reverse Dutch auction for "what's behind curtain number 3?" ticker symbols with The Bernank as the lone bidder?
Brilliant!
We're basically there now.
I have witnessed a couple of things in the past two or three days that have me very seriously thinking of getting out of the market for good. It is simply beyond broken. It's a corrupt clusterfuck.
DAYS? Surely, you meant YEARS, right?
well...let's just say that these last few days may be so-called straw that broke the camels back.
it's been years in accumulation...but now...it's just gone so so so very wrong that you have to question your own sanity if one chooses to stay in this broken racket.
I've got to give this topic some serious thought and do a little soul searching. I'm not sure I can keep being part of this mess and still face myself.
After going through the 97-99 era, I gave it all up back then. When I watched friends get $75k starting job offers with BMW 3 series signing bonuses, to play fooseball all day in an office with 5 people, I declared humanity a lost cause.
The past 12 years has just been circling through various levels of hell.
As long as you accept your paycheck in USD, you have to play.
The past two or three days? Really you're just now noticing?
You ain't leaving. If you're dumb enough to stay in after all the shit that has happened over the past 4 years, you ain't leaving.
When I first saw the robots invade a couple years back, I was stunned at what it did to the charts in the off hours--the charts are utterly meaningless now. We're going through the motions, but the whole market is just a facade.
Volatility is now banned.
lol
Unless it's a smackdown on silver, that's fine!
This whole buying and selling of securities in an open market to efficiently determine the price of said securities is a lot of wasted work that leads nowhere. I think we should have a system more like bingo and...oh, wait...
Dudley has proposed having the FOMC price equities (and other asset classes) using nothing more than a pencil, protractor and sundial.
No, they will use the pencil, protractor, and sundial to price equality. They will continue to use algos to price equities.
Thus: NEVER under any circumstance own the Vix ETFs. You can't win.
Can you short two opposed, levered VIX ETFs and make money off the degradation?
I did some math on that. The short answer is no. The compounding nature makes the one that goes higher outpace the one that goes lower. You have to rebalance all the time in a trending market.
The trick to the levered ETFs is to know that a double short ETF can never regain all of its losses and it has permanent decay. Shorting garbage x2 short ETFs like ZSL is probably the best way to go long paper silver. The decay is a math trick that will ensure you win long term. The 2010 silver raid is a good example. ZSL is lower now than it was when silver was at 50. X2 short ETFs are for fools. X2 long ETFs don't have the built in suckers decay. They have some decay. But it is not built in from the math trick. The things you have to avoid with X2 long are oil ETFs or other ETFs that use contracts and force you to eat rollover costs when they switch months. Personally, I no longer trust ETFs at all. I'd rather have the real certificate of a company I want to own.
> X2 short ETFs are for fools.
I always wonder when I see this. How is this different from saying being long any option with theta (IOW any option) is for fools?
These levered ETF's are downside protected and require less capital. You want that for free?
** You edited to stress that only short ETF's are for fools (which you did say from the outset). Is there a straightforward way to explain why?
I don't think the x2 levered short ETFs are downside protected. The downside is pretty much mandatory. Honestly, if you are hedging a long, you'd be better of shorting an X2 long ETF than buying an x2 short ETF. They are totally different animals. The difference is not apparent until you wargame it out on a piece of paper. You can look at the chart of ZSL and see the effects of the math trick. But until you do some math and a small simulation, you won't truly understand what that turdball is doing and why it can never go up long term.
As you quoted me, I started out only talking about x2 shorts. I added the part about x2 longs because they are not the same thing. I don't see them as fundamentally broken.
If you find the above opaque just pick any 2X inverse ETF and the index it shorts. Compare the performance of both in the period from 7/1/08 to 3/31/09. The 2X short should have cleaned up, but you'll find they both lost. There may be an exception or two, but generally the 2X inverse ETFs do not work as expected.
There is definately an edge there but the brokers know that and Goldman charges you the EV in fees so the short answer is NO!
No payout for you. The money NAZI has spoken.
I imagine many wanted flood insurance two minutes before Sandy hit too.
Today I draw a line in the sand. Anyone who cannot discern market manipulation of the "whatever it takes" variety from here forward deserves pity rather than scorn, for their deck is surely short a few face cards.
Gee I thought all the conventional egghead wisdomers said ObaMao win would mean a certain run to 20% higher equities? I guess not so much.
You are confusing the asset with the paper it's printed on. All tangible assets will continue to accrue in value, and on a long enough time line all paper promises will revert to the value of the paper they're printed on.
BTFD. How can prices not go up when the printing wont stop?
Even in Greek which I don't speak , I can tell he is full of shit
This is bullshit, the VIX is a calculation - without halting SPX options, how do you halt VIX. COCKSUCKERS
2 + 2 = 5
Paging Orwell
Only for extremely large values of 2.
Backwards question. How do you manipulate the spx unnoticed if the vix will tell on you?
because its so called "fear index"
and in the new yamerica we have no pleace for fear....
I thought the only thing we had to fear was....
....ehhhh, fuck it.
only terror.....
I muss say I did not see that one coming ! Well played :(
Who's hungry for skewered Bear? :/
well we are closer to perfection with this market...
now lets manipulate the weather...
Put some VIX Vapo-Rub on it. That'll fix it.
Quote of the day. Cheers !
Okay...now this is some crazy shit I've never seen.
Its kind of breath-taking isn't it?
Hey Doc maybe you can explain whats going on, please. I have been out of the markets for two years now. Just in cash and PM's. the reason is I just do not know enough.
What the FUCK! Even if you are CORRECT in your strategy, you are NOT allowed to profit from it!
I can't wait ...
Here comes another four years of total tranquility and rewarding failure.
I went into TVIX, this government, the FED, won't let you win at anything.
Tell me Obama didn't call Boeing CEO and tell him if he makes this announcement before the election, they will lose their defense contract. The timing of this stinks.
(Reuters) - Boeing Co announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.
The company told employees about the changes on Wednesday, in a memo obtained by Reuters and confirmed by Boeing.
Boeing, the Pentagon's second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company's costs by $2.2 billion since 2010, according to the memo.
The measures come as U.S. weapons makers are under pressure to cut costs and preserve profit margins amid dwindling defense spending in the U.S. [ID:nL1E8LPJ2H]
I wonder what other gems the wondercorps have in store for us over the next few weeks?
My bet is a 100k+ pink slips for GM factory workers. Now that the union vote has done its job, no need to run the factories full tilt to stuff the dealers.
That also means the Obamacar program will come to an end for a while.
And now that the election is over will employers get a memo from the White House to comply with the Worker Adjustment and Retraining Notification Act?
They were just in compliance with Obama usurping WARN before elections. Nothing to see here
RMoney would have also stolen their lollipops, it's a no-win game.
When asked about the likelihood of the S&P closing below 1400, Miracle Max replied:
"It would take a miracle."
So from here on out any "volatility" to the downside of anything will halt the stock or the index.
No crashes allowed; to be followed by MSM fat-finger, rogue trader, early "mistaken" release stories.
Probably also for at least the next six months or year various errors due to the "flooding of sensitive electronic servers and routers in a basement somewhere" or some such B.S.
Rats chewing on cables, mysterious power outage, bad code, disgruntled employee, sun spots; the list is endless.
The SEC will fix it. It's their job. LoL
Dirty Harry of the senate said no talks on the debt ceiling or fiscal cliff until after January..can´t ruin their holidays with work you know....lol...boy will he be educated..but I think he is in such a little world that he will never know
They need time to see who offers them the most money and power under the table before they decide who to bend over and who to fluff.
Lots of holiday parties with opportunities for the passing of umarked bills, diamonds, and posts at government agencies and bank board of director positions.
Those wily CONgressional "representatives" didn't get there on principle and character after all.
God you are a cynical fuck.
So of course I voted you a greenie...
for some reason he reminds me of those greek or roman era pictures of people lying around eating grapes, drinking wine and half naked in togas
Belushi? Animal House?
VIX is generally inversely colinear with price and is a chump trade. If you think you know what price is doing, there are numerous better ways to monetize that wisdom.
'Halt' a market indicator, LOL the ultimate clownshow.
remiands me of that famous "Hende Hoh"!
where did this stupid bullshit come from.
The red diaper babies with central planning
"I will gladly pay you Tuesday..."
I am seeing RVX stuck at 22.64. VIX seems OK to me.
But it the had their volatility software working so well just yesterday.
ZH halted too, but gone up again in minutes.
Strange days...
Derivitives market................about to be closed. This is a test. DTCC............certs under water. Can't trade derivitives on certs that don't exist.
...reading the Fight Club lamentations on this VIX FIXX has me laughing my ass off. Man I love you guys. Lol.
http://www.youtube.com/watch?v=q1lWBs79LW0
http://www.universetoday.com/98354/the-milky-ways-black-hole-shoots-out-brightest-flare-ever/#more-98354
Prices are too mathy, and favors men.. we need something more gender neutral.. colors.. let's use colors
Big picture. In Soviet America the market serves the state. The state will intervene as necessary. If the state sees fit, the markets will be ended.
And a thanks to Tyler, if he handn't "mentioned" it, as if they didn't know it, they'd a kept it frozen!
Crash overrnigt bitchez and bitchezzetes. The music has stopped, and the real austerity has to begin.
Crash overrnigt bitchez and bitchezzetes. The music has stopped, and the real austerity has to begin.
Plus one for 'bitchezzetes'
Minus one for double post...
i have been watching VXX for a couple years now. its basically a useless indicator now.
is there any market that they haven't ruined yet?