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And This Is What A Full Blown Market Exodus Looks Like
260,000 S&P 500 e-mini contracts traded in the three minutes following the fake AP Tweet. That is ~$20.4 Billion notional value 'changed hands'. For those with trailing stops, our condolences...
the day - to get a sense of the scale of volume...
and close up...
and VIX smashed higher on huge volume too...
and Treasury Futures...
eMini Depth of Book for every minute of every trading day between March 2010 and April 23, 2013. April 23, 2013 is the thick red line. Via Nanex:
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I'm sure confidence is soaring within America's investor class.
I say this was an INSIDE JOB, like the Gold and Silver crash and bitcoins, the list will get larger in the days to come..just watch, probably stuff we never dreamed of..
It's worse than you imagine, there were BBs in that tweet!
Tehrist
An algo can't even trust an AP tweet anymore. What's the world coming to ...
And the AP's twitter account has been suspended. Classic!
Not to worry, Maxine Waters is the Ranking Member of the House Financial Services Committee. I'm sure she'll get to the bottom of this.
Maxine Waters is already at the bottom...
And why's they called dark pools and not light pools? These rayciss white people markets
That pic is a "fishfinder."
Reminds of this gem:
http://www.youtube.com/watch?v=oc1zGRUPztc
And then there's this:
http://www.youtube.com/watch?v=cesSRfXqS1Q
She'd better consult with her "cousin Muddy" to get to the bottom of this...
Exactly, poor software is just trying to make a living front-running the market and fucking retail investors and you have these little jerks getting in the way. It's a travesty!
Now they know that after a paper collapse the demand for physical stocks will be huge.
please notice the cleansed charts on cnbs....no signs of any dip...so i guess the market went down but not the stocks in it.....
Just a little blemish cream to smooth over the market uglies.
nah CD just pop the zits
Just testing the dynamic/impulse response characteristics of, and measuring the inherent time-delays present in the market-reporting system, gentlemen.
As you were ...
-- or --
That's one way to get a market to move.
Like shock testing! Neato.
It's pretty obvious that during the day almost ALL trading is done by computers pissing on each other. Retail is gone. I suspect big funds are now "buy, hold and pray".
Exactly! humans simply do not move that fast. What an amazingly stupid way to destroy the last vestige of beleif in a free market.
A casino roulette wheel has better odds!
Kinda knocks the shine off the techies.
It was a blip. LOL!!
It was a high-capacity assault tweet.
It was at least the 6th major, undenyable warning that they need to put a throttle on the HFTs. Their liquidity is pure illusion. Like credit- when you need it you can't have it, when you have it you don't need it. They preach liquidity (implying stability) when, in fact, their influence is the exact opposite.
Of course, nobody is ever going to stop it, least of all the SEC or any other regulator, until they break something permanently. The regulators require iron-clad proof before taking action. The kind of proof that only comes in hind sight after a lot of people have been irreparably hurt.
I know it's fashionable to think that speed and technology are the answers to everything these days, but in this case, I respectfully submit that I'd rather have orders handed with a phone call, like the old days, even if it costs more to execute them.
No one gives a damn about bitcon's.
This was the only crash that uncrashed within seconds. The rest of the crashes were just crashes.
Tell me right now everyone did not picture this. I dare you.
http://www.youtube.com/watch?v=DItgw1mU9Us
Market Jitters ON STEROIDS! And these are the people that want all pensions and old age economic "securiity" based on the "stability" of the markets?
FUCK THAT!
This stop harvesting will compensate for the miniscule POMO today, and fuel tomorrow's testing of ES 1600, while gold languishes at 1400.
Stops are for wussies!
The danger here is that somebody learned something very interesting here, and that is that inordinate amounts of money can be made with very little risk if everybody piles on. I suspect we're going to have a gradual sell of over the course of the next few weeks, and when all the big guys are out and the little guys are in; it's going to be smash and grab time between now and the EOY.
+1 YEP. Expect to see more of these hacks in the future. Does Reuters have a twitter account?
Who wouldn't want to play musical chairs at a jillion miles per hour?!
Definitely all is well!
Down to an art.
Looks more like a 'Zip Line' course designed by the Lawnmower Man...
I keep waiting for Max Headroom to pop into one of them rainbow charts.
I, Robot Trader.
High Frequency BLOBBING UP...
US 'american' Market Exodusism.
Make me laugh.
Absolutely. That is what Chinese citizenism citizens expected them to do. And if they do not comply, then on with their termination.
they are inside my lap top forcing all my files out at gunpoint...they said they are going to do this to every laptop until they get their guy....
Twerrorism! Tweet of Mass Destruction! Lock down the planet until they are found! Monitor all 7-11s for hold ups!
Bwame da wabbit!
AP Twitter Password: sesame
Huh, I figured it was 1, 2, 3, 4, 5
That's the kind of thing an idiot would have on his luggage!
well...
the admin password for our servers is
1234 followed by the company name.
the first time I saw our admin type it in... I was like.. OMG!!
Well at least the password isn't "password".
Oh shit, how did you guess mine?
The big problem with passwords is that it's hard to have an easy-to-remember, strong password for every account you have (OS login, ZH, Facebook, Twitter, YouTube, Email, ect.)
I use the same password, or an easy to remember variation of that password for almost everything, and it works great, so long as you keep it as your most valuable secret. Tell someone about it, and you're fucked.
My password was 666 for just the longest time...
+1 Even funnier, the three dimensional chart is starting to look like plaid.
Definitely a market I would feel safe putting my money in and that I feel compelled to participate in soon.
you and all the other money that is "on the sidelines"
/sarc off
Can I interest you in a loaded mutual fund with unimaginative large domestic blue chip holdings? They are the market's best kept secret!
Love,
Your Financial Realtor, er, Advisor
Fast Fingers are the new Fat Fingers, in the New Normal.
Hack swan event.
Everything is ok ...shhhhh...shhhhh calm down. The bad men selling stocks are gone now.
Amazing how fast it got bought right back. Like nothing ever happened.
Nothing to see here citizen, move along!
"Nothing to see here citizen wage slave, move along!"
Your version was so 50's and 60's so I fixed it for ya. :)
Just a little blip in time. It's nothing to worry about. In fact, it's like it never happened. Forget all about it.
Understand?
Forget all about it. It's like it never happened.
Exit stage..............anywhere.
<$10 says the end-of-day financial news stories will claim that all that volume today was confirmation that the stock market has recovered from last week.>
That is exactly right. Just another manufactured 'crisis' of which to take advantage.
No volume stock market. Presto. There is volume. Now we can go higher. Right. Right.
Here come the story lines right on schedule ... http://www.marketmontage.com/2013/04/23/bears-last-stand/?utm_source=fee...
And the SEC says: "No comment"
They are busy *fap* *fap* *fap* *fap*
CME on the phone with Goldman to determine what price level to bust trades at...
Daily bar charts don't see this. Markets were up today on VERY STRONG VOLUME.
Pass the crack pipe, please.
That will be the nightly MSM news take on it.
He Hee.. He said market..
http://www.ccs.neu.edu/home/image/images/small-bnb.gif
At what point of ignoring this now obvious manipulation are regulators complicit and part of the conspiracy? I mean, they clearly already are, but when do we as citizens have enough of a case to start going after the regulators?
There is clearly no stick or carrot for them to do their jobs. Time to find a bigger stick.
now i need to ask every hedeger....how long are you going to expose yourself to this abuse....it is time, you are not smart enough to win no matter how smart you are......get the fuck out now.....the risk reward pendelum is finished it is all risk and no reward.....
Official SEC response: "Huh? What?"
(falling off chair zipping up pants)
Call me Jack's complete lack of surprise.
Algo's sure didn't have a problem buying up the Yen. What does that tell you. I can't wait for the first big dissappointment from the BOJ, should be fun.
It's tough for BJs to be disappointing, unless they use their teeth. Woops might have misread that.
Sumbuddy duz not want us wee folk in the market.
Or, one hell of a warning!
Indeed. I'm far too exposed to forces far beyond my control or understanding. For I AM A MUPPET.
The most interesting part of this was how it affected everything, FX, bonds, futures, everything except the euro. The euro just don't care and neither is it tied to the market any more it seems.
PMs popped nominally about .5% during the flash crash confirming their safe haven status.
Is it bad that for a brief moment ,when I first heard the news, that I was ear to ear grinning like a Cheshire cat?
I bought gold right when it crashed but just sold it now that everything's okay.
Doc here is my elementary conclusion to the Sprott thing earlier. Any thoughts?
I was thinking DS...Sprott probably has a massive amount of physical silver. If they can somehow crack him open like a coconut, all that physical comes pouring out into somebody's hands. Like you said this is 2008 for commodities and Sprott would be the equivelant of a major Primary Dealer, no?
I guess that could be true. I don't know his size compared the the metals market. If it's anything like the Hunt brothers then I imagine that would be an accurate statement. I also don't know if he is selling any actual physical or if he is just selling paper. I was under the impression that it was just the latter.
How convenient with the CISPA bill now in the Senate.
And here comes USDJPY back to the party once moar. MUST BREAK TO NEW HIGHS.
And you think "people" are doing this?
Psychology?
This is one big mind f--k.
PPT says giddy up!
The VIX Futs Twin Towers
See chart above
It's the same guys who manipulate gold? Gold did not seem to move...
Didn't see any reaction in gold. Apparently today, the price at which Comex will refuse to deliver, is $1410.
Fed probably said, "thank God we don't have to prop this shit anymore". Then they pulled the plug. Seconds later, they realized they had to prop again and turned everything back on.
Hair trigger markets just looking for an excuse.
You miss the point: that is not a market.
don't worry, I'm sure Eric will be handing down indictments soon
this is the digital world a decade later
you do a fake 911 that's over in minutes
and you make more than a couple of airline shorts
LMBA-zed if we make it to May before a crash.
Nothing to see here.. Stack quietly.
We need the cartoon Bears to explore this one!
That was a fender bender.
"Flash Hack" ... the new Normal
Just kidding!
http://i190.photobucket.com/albums/z35/royone_bucket/Airplane%20captures...
Can they localize and identify the hackers responsible like they locked onto those two Boston bomber boys in a day or two? Or will this hack just remain a faceless mystery?
What a LOLercoaster!
An exodus followed by an inodus
Damn, for a second I was hoping they would have to replace the WH with a double-wide with chrome rims; you know, some thing that would reflect the true status of America...
I got here late to the party,
You mean to tell me bernsplankes is still fucking breathing?
Fuck, could have been a grand day this one??
This is why I am not intimidated by HFTs/Algos. They are completely irrational
people get put in jail with less evidence than what these charts alone provide.
fortunately for the scumbags behind the scenes committing these crimes...they are above the law.
We need a Howard Beale moment on the idiot-box.
WTF??
Nutty democrat Ricin mailer suspect released. So he framed? Or, it was cocaine and they're OK with that.
Released on bond. Cracks me up.
And the fundamental irrationality of the stock market is revealed!
Why would that news cause the market to tank? Oh yeah we are in the bizzaro world.
Somebody didn't get the volatility they wanted, so they resorted to more, artificial means?
http://www.businessinsider.com/art-cashin-on-big-vix-bet-2013-2
.
April expired already, on, wait a sec, one day after Boston..
How many of you had stop losses that just got taken out
My bollinger bands are rectangles.....coooooool.
New era Hindenburg Omen
This is what a Hindenburg Omen looks in modern times, be aware....
You know where to not park your savings now... Besides the usual insider trading that probably went on positioning to profit on the hacking of the twitter account I think when all is said and done this may have been the act of a concerned citizen sending a heads up to get your fucking savings out that rigged flatlined in relation to the FED's balance sheet market.
He's dead Jim...
Is the hack of AP's Twitter account considered as one of the "intangibles" for GDP?
Off balance sheet or more Obama bull shit. You make the call.
That is just so much irony.
That the most sophisticated trading vehicle in the history of mankind is taken to the floor by a 140 character tweet
If that doesn't explain where we are in a nutshell, nothing does. We are a kevlar people pumped up on allergy medications
Well, the bots are written to assume every tweet is real, accurate, and actionable.
How much did this cost them, I wonder.
My guess is that this was just a test to see how the markets and the bots reacted.... there will be more of these welcome to the new normal.....
No worries.....just getting everyone's attention before AAPL's earnigs.
With Cook's job on the line....do ya think that AAPL's earnings will show good things? Y'know any real figures / truth notwithstanding....
Re. AAPL: market has forgiven (even rewarded) some monstrous misses lately (CAT et. al.).
Precisely why I don't use trailing stops.
That Nanex animation is awesome.
If this chart looks like the seismograph of an earthquake, there is a reason. $20.4 billion is something far beyond collusion or insider trading. To move a free and open market in this way would be almost impossible, like breaking the earth's mantle.
In a market where 5 lead and everyone else follows, in a descending pyramid scheme, it's easy. Those with the power to move the market in this way do not execute such $20 billion "flash" trades based on their own "fear" (sell at any cost at a loss) based on a rumor but this event exposes, by exaggeration, the way they make money, by simultaniously shorting the market and "buying low and selling high". They do this by using their power as "market makers" to pull out the floor or market supports and manipulate it to their advantage. This routinelky happens on individual stocks, or industries or indexes, as one need only short 100 shares to buy 1 million in a market without a bid.
Winning because you belong to the right "clique", is not a market and a close examination of this event should be conducted just as if it was an insider trading event even though the market makers were not responsible in any way for the rumor. It is the way they manipulate and "capitalize" on the way they make markets that needs to be examined in close detail.
Unless I am misreading things we know exactly how the big boys aka manipulators are positioned to react now when the SHTF and the safest port in the storm in the paper market is the Treasuries according to this. If anyone wants to refute this please do because I am not pimping treasuries for the sake of making money I am generally concerned for people getting their life savings decimated in this socialist wealth transfer death trap that is the market when it goes south. My point is anyone in IRA's not self directed, pensions etc should be positioning at least short term as safe as possible to preserve face value on those investments first and foremost.
I really feel it is important to break down exactly how things moved here as a warning for everyone else who does have skin in the market as savings aka investments as IRA's, 401ks etc.
Look at all that liquidity HFTs provide
The longer you stay in the markets, the higher your risk of ruin! MF Global, Madoff, algo traders taking out the stops, etc etc etc.
The ENTIRE western financial system is a sham. Of course, nobody with any influence will ever say that publicy, because that would be your death sentance.
That animation from Nanex is outstanding (http://www.nanex.net/aqck2/5029.html)
Watch the bid/ask (size) boxes for entertainment. Fairly symmetrical leading up to and into the plunge then just look at those bids.