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Did Someone Forget To Push Europe's Algo Clocks Forward?
Still think this market is driven by humans? Behold European stock markets this morning as they collapsed into the pre-Daylight-Savings-Time European close and reversed to the second... and then a few minutes later as reality struck, as Nanex points out, HFTs went wild in FTSE and CAC Futures...
The idiocy of algos...
On March 12, 2013 at 11:49:50, an algo appears to have gone out of control, causing wild oscillations in FTSE and CAC futures.
1. March 2013 FTSE Futures, 1-second interval chart showing trades.
2. March 2013 FTSE Futures - zooming in to about 1/2 minute of data.
3. March 2013 FTSE Futures - zooming in to 5 seconds of time.
4. March 2013 CAC Futures - showing about 1/2 minute of data. Same time period as Chart 2
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Sorry about that.
I knew I should have done more debugging before going production with that code.
That oscillation looks like an early "spring" simulation program from CS 101.
The CAC was me, too, and I am not sorry.
If only the government could decide what time it is...
Does anybody really know what time it is?
http://www.youtube.com/watch?v=2CPC0cCagOE
It's always 4:20... beer:30... & 5 O'clock somewhere...
you know these millisecond nanex charts are like the tyler durden flash appearences in fight club...if you are not watching you will not see it...and when you do see it, you are not sure what you saw....the same experience the sec would have if they were on the up and up......
Daylight savings time's a bitch aint it.
Especially now that the US pushes clocks forward early march and Europe pushes clocks forward at the end of March. That means for 3 weeks the time change to the UK is noly 4 hours instead of the normal 5.
Poor little algo got all confused. Never mind, as with all softwae, we must now Üpgrade to viability"!!
Someone at Wadell & Reed tripped on the rug and fell into their keyboard.
It's the only explanation left.
TPS reports
Where's my stapler? I must burn the building down.
I can't believe FTSE is trading positive after that horrid financial news last night.
2:30 GBP Industrial Production (YoY) -2.9% -1.1% -2.1% 02:30 GBP Industrial Production (MoM) -1.2% 0.1% 1.1% 02:30 GBP Manufacturing Production (MoM) -1.5% 0.1% 1.5%Bad news is good news in the new normal.
Yep! Bad News for the real economy means good news for the markets. More QE, more central bank money printing to flood liquidity into the markets. It goes into equites and presto! A big bump in stocks. EVery bad bit of news for the economy means more money printing, that is BULLISH for stocks! Fucking farce!
good news is good news...bad news is better news...no news is good news
if it's jews it's news... & if you snooze you lose...
If it's a Jew Slam it's Francis !
You snost you lost...
You're jew bait. Mossad is coming for you.
We can't beat 'em. Maybe the Chinks will.
Oddly enough... I'm not trying to win anything... & anyway, if it were to happen, it would just go to prove that I was right all along...
'It's good news for the people who love bad news'
Keynes was a master of deception, and that is why he has found political favor. None of this is surprising anymore, knowing full well that a bullshit artist such as Keynes is the philosophical cornerstone on which these overlords have built their "church."
The UK's going down the toilet (and I say that as a Brit), for myriad reasons and you can take that to the bank.
The question is, do I stay or do I go?
The Clash have your answer:
"If I go there will be trouble, and if I stay it will be double"
Also: London is Burning, so try hanging out by the river.
Thanks, that's good advice.
Remain where you are, peasant, and fulfil your Glorious purpose as being a tax unit for HMRC. :)
Watch Northern Ireland. When it goes, God willing, you will know England is in deep trouble.
Are you saying that the Scots have been thoroughly pacified by the King's Cock?
FREEEEEDOM!!!!!!!!!!
How you get a rude and a reckless?
Don't you be so crude and a feckless
You been drinking brew for breakfast… Rudie can't fail!
JenkinsLane, I'm no Brit, but I am often in your country, have been there often since the late 80's. I followed your news and economy for decades. I have never, ever been so convinced that the UK is going to collapse. So many reasons, but a new one has been the policiy of "Open Borders" started by Labour under Blair and now an EU law! Just watching the NHS go into collapse is a sign of the millions crowding into Britain to get benefits. Now Rumania and Hungary are lining up to send hundreds of thousands more. Where does it stop! And North Sea oil is in collapse, even as new wells are drilled the old ones run out faster. Government is the main employer, private sector is all in the financial services in the City of London. This model is headed for collapse.
After being the world's great nation for centuries, it has come to this!
I think the British establishment, aka the British elite, who are ill-defined I will admit, have decided upon what
can by termed "The Mexican Model", for the UK's future, which incidentally appears to be the plan of the US elite too.
It may work given totalitarian control and endure for some decades just as the Soviet Union did but the UK isn't Mexico
and nor is the US. Ultimately the elites will be replaced by ones more reflective of the population they rule, just as was
the case in African after the end of colonialism. And if this is the plan for the future life will be as pleasant in the UK
as it was in the former Soviet Union.
I hear there's a new, upcoming entity that's not too far away to move to. ;-) And they're getting certain voting machines and tactics from Chicago Mayor Daley's heirs to make sure it happens. Seriously, is Scotland going to somehow gain, financially, from separating or lose and they don't realise it in all the patriotism.
you have no faith in the jew bagel bernake, he will fix it all. have no fear, buy the F***ing peak.
Sarc/ off
Sarcasm or not -- You are still an idiot.
It's like when little teenage shits insult someone and then say; "just kidding."
money gets flipped form the fed before new UK Qe................ CB save
It's grift in living color,
brought to you by Nanex
An hour is an eternity for an algo.
They have the attention span of an average Prozac head watching MSNBS or KNN.
wha.... what did you say ?
I know the second sentence was too long...
Funny!
Lets see if they remembered leap year. Too bad we will have to wait until 2016 to find out.
Looks like a daily chart of ag.
Its all about the banks. Who cares about unemployment or production? But when a bank starts to shake its a different story. (Commerzbank)
Manager Magazin says:
- Capital increase could come anytime.
- Co. preparing capital increase of between EUR 700-800mln.
Reaction details:
- Co. shares moved 2.43% lower in immediate reaction to the news from EUR 1.48 to EUR 1.44 before being halted.
- Co. shares reopened, hitting a low at EUR 1.43.
- In the following five minutes shares continued to move lower, printing a low of EUR 1.40, moving 5.280/0 lower from the initial headline.
I regularly do not even look at the DOW anymore, but am I seeing this right? it is in the red? Is that true? I thought it could never close down again....huh!
Naah... Its not red. Its just non-greenish (semi-green, half-positive, almost-go-up, semirally, rally in making etc...)
Hasn't.... closed.... yet.
Fat-fingered, "Oh, shit - we dumped too early!"
Might be a good time to get a few Y2K project managers and coders out of retirement, and get ready for the fall time change-back.
This would look good in solid gold frames on a feature wall plastered with 1 Dollar notes.
The bottom charts take me back to first-yr engineering. Systems analysis, feedback loops, lead/lag. Sigh.
This video will explain how complicated daylight savings time is on a world wide basis:
http://www.youtube.com/watch?v=84aWtseb2-4
now everything all makes sense!!!!
HEY KRUGMAN!!!
IS THIS WHAT YOU FUCKING MEAN BY "THE ECONOMY IS GROWING"??
Nope. Just more sensationalist crap.
Europe is not on DST until March 31st - you might recall that the US and Europe diverged a few years ago.
That spike lower was driven by:
"Commerzbank shares have been hit hard in recent trade falling close to 8% after Manager Magazin reported the bank is planning a capital increase which could come at any time. So far the bank has declined to comment"
http://ransquawk.com/headlines/stock-futures-continue-to-trade-lower-fol...
i don't know if this had smth to do with futures rolling-over to next month, but it seems data feeds stopped working or delayed shortly before EU markets close (17:30), like it stalled
curiously, markets were about to tank...
in this chart, some of the 5 minutes candles are missing
http://www.investing.com/indices/france-40-futures-advanced-chart
if not due to roll-over, where did they go?
blockage due to quote stuffing?
and what about the "human" action in CAC40 futures that happened when EU markets opened
15 min candle chart shows:
drop to 3820 from previous close, then forced push up to spike at 3850, drop back to 3830 with many spikes upwards
missing candles between 18:25 and 18:50, then 10 point drop...
the name of the algo is the "ponzidini" :>)
this is some of the most prescient evidence of a global stock market, which wants to go up, even though some programmer(s) got lazy.
Ah [ light turn on], that would explain the crazy price charts in PM's. You know, those charts that are not manipulated.