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All Aboard The Fractal Applecoaster
Nanex thinks this is blatant manipulation. We don't: we think the following rollercoastering, fractalized charts (shown both zoomed out and zoomed in) of intraday trading in AAPL stock merely confirm what happens when the only trading is that done by momentum ignition algos desperate to force stop cascades in a world devoid of actual volume, when the smallest trading burst leads to a complete collapse of the bid/ask stack. Although who knows: it may well be both...
From Nanex:
Trades color coded by exchange and NBBO. Note the wild price swings in less than 1 minute of time.
NBBO (red shading is when bid > ask, yellow when bid = ask) Note the wild, wide oscillations. And yes, the bid shouldn't be above the ask, but who cares anymore.
Best bids and asks. Up and down and up and down and up and down and up and down and..
Showing just the NBBO. Yes, it's changing that much.
Best bids and asks - participation from many exchanges.
All bids and asks. Prices. Everywhere. Everywhere but stable.
Zooming into 5 seconds of time. Prices oscillating 50 cents. Many times per second.
Another 5 second close-up.
and another.
and another one.
and another one down.
and another.
This is zoomed out.
This is really zoomed out.
Oh yeah... "markets" LOL
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"You realize, Dr. Angelo, that my intelligence has surpassed yours.."
~~~
"It's not new. I realized that nothing we've been doing is new. We haven't been tapping into new areas of the brain - we've just been awakening the most ancient. This technology is simply a route to powers that conjurers and alchemists used centuries ago. The human race lost that knowledge and now I'm reclaiming it through virtual reality."
“Fast and stupid is still stupid. It just gets you to stupid a lot quicker than humans could on their own. Which, I admit, is an accomplishment," she added, "because we're pretty damn good at stupid.”
Jack Campbell, Invincible
Apple has fundamental problems as well, like not making any money.
I was looking at a physics book yesterday, nothing special, 10 year old nature of the universe stuff. What caught my attention is that there were 14 different ways to buy this obsolete, not well written book: audio, e-book, used, new, paperback, yada, yada. Bezos' megalomania of being all things to all people is starting to bite him in the ass. Tracking all that shit costs money, which is why Amazon's margins are unicornish.
e*trade baby is confounded by these "markets."
Is there still time to get in?
Abbey Joseph Cohen's magic 8 ball says "definitely."
And yes, the bid shouldn't be above the ask, but who cares anymore.
Best line!
g86, the sheeple will still buy and sell even if the share stub quote.
The Bid is higher than the ask frequently in Real Estate
At least in the "Hot Markets" of SoCal, Vegas, and Florida. Cough,Cough
Everything is great though, Cough, Cough.
Maybe that is because the gatekeepers of RE are failed business owners and the unemployed/unemployable...AKA Realtors.
And the buyers are Boomers who think they are RE tycoons.
"But who cares anymore!"
i wanna fuck Simon before i die....
When are they going to start throwing some of these HFT programs and computers in jail?
The MCP had the right idea.......actuarial program indeed.
Put them on the grid.
When DoChen?
Nevah!
The programs probably have code from the NSA embedded in them, rendering them immune to prosecution.
Although who knows: it may well be both...
And that is the Quantum Mechanical truth.....it IS both at the same time. It's the observer that determines one or the other at any given point in time.
I'm dubious it is both. It is most certainly market manipulation. Very little HFT activity, when you boil it right down, is not a blatant violation of trading rules. If the activity itself starts from a point of lawlessness, it is difficult to subsequently gain legitimacy and lawfulness.
But they game the game well, and on Wall Street, that's ultimately all that matters.
If the activity itself starts from a point of lawlessness, it is difficult to subsequently gain legitimacy and lawfulness.
Give Soph a gold star on the forehead. That's truthy, sir.
1 guy in Reseda bought 1 Apple share and caused all this!
I thought that dude was from Van Nuys...
We may have found Robot Trader.
hook and line... fer sure fer sure...
<oops, double post, like OMG>... hook and line... fer sure fer sure...ER-ER...
What a great "market." I am sure that average Americans all over this broad land are ready to plunk it down...on the US equity pachinko machine.
As always, thank you Ben Bernanke...for this utter wasteland you have made for us...by bailing out bankrupt and criminal Wall Street banks. This is your legacy, sir.
Gee thanks Uncle Bearded Clam! You've completely ruined any trust in any market for generations! Now you coward get ready to speak 'AH' of course! Can't risk speaking during trading hours OH NO can't have that!
Well, when capitalism and public opinion are blamed for a major crisis, it would be kind of us to remind people our current system doesn't really resemble capitalism.
What did Adam Smith say about central banks? (If you were about to google this, I'll save you the trouble, FUCK ALL)
In the future we will just have to trust the experts to make all the decisions.
Cdad it can not be a pachinko machine. Pachinko machines have balls.
Good point. Perhaps...it is a roulette wheel? A one baller.
That fits.
http://americandictators.blogspot.com/
It's all bullish bullshit.
in the "new normal", aka transition from capitalism to communism, this is normal.
'Capitalism is the best path to socialism'- Karl Marx
and vice versa... and around and around we go... forgetting that we're terrible at maintaining things.
CAPITALISM + COMMUNISM = CAPITULISM
everything will be fine until someone starts selling for real
Too bad that isn't the market's EKG. We'd be seeing The Big One damn quick.
The Zombie market is a small shadow of its former Zombie self. Nobody wants to play, what a suprise.
SKYNET is angry
Tachycardia. Often precedes a major health event.
Transrectal cardiectomy
x" + 0.01x' + 17x = -10 + 0.04 sin 4t
then divide by zero...
http://www.bbc.co.uk/news/business-23259935#sa-ns_mchannel=rss&ns_source...
thirty lashes with a wet noodle
Take away hft & parasitic stop loss algos and it all goes to zero.
AAPL died when Jobs did... no more innovation there at all.
I would love to see the same NANEX data on PCLN... $900 a share? -LOL!
thats a cheqp lol
Jobs innovate?!? Jobs just used Xerox, LG, and Kan Kramer ideas and claimed them as his own.
HFT submitting and cancelling is ILLEGAL, how come they aren't prosecuted..
oh yeah TBTF, let them keep manipulating
Looks like a bad digital case of ADHD with Bi-polar complications.
Another exciting advance in the New Normal.
Who needs enemas, with friendly algos like this.
Its just a game now for the New York Boys....can´t make money the old way....so now you have to cheat to be the king...what business ethics...none...just cash please..and now..right now...I think IPO´s are going to come back...just like the late 90's....the HFT´s can bid them up so everyone buys into them again...the New York boys can make money at that game...fees and free stock options upftont...then sell into the hype stage....then sell em short to crash them after they are all out there floating around...just like 2000....
It's too soon for that.
The suckers haven't forgotten about all the money they lost on Facebook, Groupon and Zynga yet.
Surely a $425 stock moving $1.20 (i.e about 0.25%) in about a minute is not at all unusual is it?
Sure, if all we look at is the start point and finish point.
Barker: "$30 for this bushel of delicious apples, only $30!"
Customer #1: "I'll give you $32!"
Customer #2: "I'll give you $34!"
Barker: ""$33 for this bushel of delicious apples, only $33!"
Customers #3 and #4 who acutally wanted to eat the apples walk away in disgust.
We could open a half-way house for wayward HFT algos - no broadband - dialup only - its part of the treatment.
Not too long ago a share of AAPL was worth over $700. Harry Wanger bought the top and Kevin has been on vacation since. Robottrader cashed in after cheering the market and has finally left his Mom's basement to move in with his tranny friend. Its all by the book.
bid > ask! and they call it a market!
Kind of like a 'business rule' or an out of business rule.
Man, if we get lucky we may get hit by some of those flares from the sun. And all those algoes can take a deserved vacation for the time being.
Not if they switch to full optical VLSI.
A traders job consist of one thing, stick a vacuum up the the exchange and press power.
I'm no broker, but I know if I do this with the clutch and throttle on my motorcycle it won't last very long. At all. When does this thing finally toss a rod?
The markets are playing musical chairs... without the chairs.
Space War: Auto-Opportunity Destruction.
Nanex thinks this is blatant manipulation
anytime the market goes down it's manipulation. That's why they BTFD!! Markets can never go down again!! WEALTH EFFECT!! (if only on paper for most and huge paychecks for the minority).
Once the market goes into it's final death throes only for the DOW to smooch the higher portion of 5k for 30 years will most realize how bad they got fucked by listening to the "suits" in the 1980's selling the 401(k)s and the like to them. To bad it will come right when they need it most as an even BROKER gubmint will be cutting SS and Medicare.
Good luck to you BOOMERS!! and PARTY ON!! (hey selling your home for half of what you paid is just like saying a half a loaf is better than no loaf). And if your lucky one of your third world USSA grandkids can put their LOAF on BREAD for you to eat for the legacy you left them - nothing.
Jersey Shore will be our ever continuing legacy. Hoorah!
if laughter isn't the best medicine, these guys are in a lot of trouble...