• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

Market Idiocy Full Frontal: Round Three

Tyler Durden's picture




 

First there was TWTRQ - the ticker for Tweeter Home Entertainement (which exploded 650% higher when the TWTR IPO was announced); then came NEST - the ticker for Nestor Inc. (which exploded 4900% higher when Google announced its acquisition of the thermostat maker Nest); and , drum roll please... today (just as we warned last night) the market's sheer idiocy is exposed once again in the form a 900% gain in the ticker symbol MYRA - the ticker for Myriad Emtertainments (following the President's unveiling of his MyRA savings plan last night)... we have no comment...

 

Today's epic rally... (as $120 investment)

 

and our warning last night...

One final point: in the aftermath of the demonstration that the market is run by absolute idiots, courtesy of TWTRQ and NEST, we fully expect that tomorrow Myriad Entertainment & Resorts, stock ticker MYRA, trading at a lofty price of $0.00, will soar tomorrow to, what else, Obama's target price of $10.10.

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Wed, 01/29/2014 - 13:37 | 4380359 starman
starman's picture

this is to fucking funny! 

Wed, 01/29/2014 - 13:39 | 4380364 AllThatGlitters
AllThatGlitters's picture

This is dumb.

Wed, 01/29/2014 - 13:47 | 4380400 nuclearsquid
nuclearsquid's picture

I think Tyler did it just so he could write this article.

 

Wed, 01/29/2014 - 14:06 | 4380499 spastic_colon
spastic_colon's picture

it does seem a bit suspicious, mainly due to the fact that the demographic that would actually think this, are too stupid to figure out there is a ticker MYRA

Wed, 01/29/2014 - 14:11 | 4380528 Headbanger
Headbanger's picture

Yeah but it worked cause we're reading it!!

Wed, 01/29/2014 - 14:14 | 4380537 TruthInSunshine
TruthInSunshine's picture

You really couldn't make this shit up in the society we now live in which is Idiocracy come to fruition, and The Onion has no further reason to exist.

A full blown fukkin' Idiocracy, full of mental degenerates -that's where we now stand.

Wed, 01/29/2014 - 14:57 | 4380733 Say What Again
Say What Again's picture

Wait a minute.  I thought the exchanges were supposed DQ any trades like this that cross at "unusual" prices.

I guess its OK as long as they're shaving the sheeple.

Wed, 01/29/2014 - 16:41 | 4381431 Exponere Mendaces
Exponere Mendaces's picture

"Welcome to Carl's Junior - Fuck You, I'm Trading!"

Wed, 01/29/2014 - 15:04 | 4380772 Panem et Circus
Panem et Circus's picture

I think he did it just to feed the algos

Wed, 01/29/2014 - 13:42 | 4380384 Mr Pink
Mr Pink's picture

What's so funny? I had $120 to burn and I took a chance. Risky? Yes but all I have to do is find just one fool to sell my shares to

Wed, 01/29/2014 - 13:47 | 4380404 smlbizman
smlbizman's picture

ur story is false......i bought all the shares at 0.00 and paid the 9.99 commish, ..no fool would sell any of these shares currently....however .12 per we can talk..

Wed, 01/29/2014 - 13:54 | 4380460 fonzannoon
fonzannoon's picture

Tyler you should toss this up pre fed as a tribute to the Bernak

http://finance.yahoo.com/blogs/daily-ticker/as-we-reflect-upon-bernanke-...

Wed, 01/29/2014 - 13:48 | 4380405 Jim in MN
Jim in MN's picture

MyRA...MYRA...Marla.

 

Marla.

 

I miss Marla.

 

Now see what you've done to me, you bastards.  I'm all morose.

Wed, 01/29/2014 - 13:58 | 4380480 seek
seek's picture

She shut down her new (old) blog late in 2013, too.

Wed, 01/29/2014 - 16:56 | 4381385 tip e. canoe
tip e. canoe's picture

miss her music mixes much.

Wed, 01/29/2014 - 13:52 | 4380438 thunderchief
thunderchief's picture

Don't worry if you think you missed out.

It's an easy ten banger from here.

And the fundamentals speak to and for themselves.

Wed, 01/29/2014 - 13:56 | 4380472 Canadian Dirtlump
Canadian Dirtlump's picture

I'm kicking off a homonym synonym ETF to take advantage of this opportunity.

Wed, 01/29/2014 - 14:06 | 4380509 taketheredpill
taketheredpill's picture

 

 

Market Cap $49,000.

Oh my.

Wed, 01/29/2014 - 13:38 | 4380360 JustObserving
JustObserving's picture

No one in this world, so far as I know - and I have searched the records for years, and employed agents to help me - has ever lost money by underestimating the intelligence of the great masses of the plain people.

H. L. Mencken

Wed, 01/29/2014 - 13:37 | 4380362 WhiteHose
WhiteHose's picture

i have one comment, what a bunch of dumb asses out there!

Wed, 01/29/2014 - 13:51 | 4380421 StandardDeviant
StandardDeviant's picture

Well, one, anyway.  Not exactly heavy volume.

Wed, 01/29/2014 - 13:40 | 4380365 piceridu
piceridu's picture

Idiocracy was truly a documentary.

Wed, 01/29/2014 - 13:57 | 4380474 El Vaquero
El Vaquero's picture

Fuck you!  I'm eating!

Wed, 01/29/2014 - 13:46 | 4380366 buzzsaw99
buzzsaw99's picture

ho lee fuk

that entire move cost about three fiddy (actually it cost $117)

Come on Tyler, admit it. You bought $100 at market this a.m., right?

Wed, 01/29/2014 - 13:40 | 4380367 Titus
Titus's picture

Anyone else find the new javascript site design frustrating? Just because the whole internet got herpese doesn't mean it's cool.

Wed, 01/29/2014 - 13:40 | 4380368 pragmatic hobo
pragmatic hobo's picture

my guess is that these are results of machine algorithms gone wild.

Wed, 01/29/2014 - 13:41 | 4380375 piceridu
piceridu's picture

Stupid people I understand but stupid computers?

Wed, 01/29/2014 - 13:40 | 4380371 Cursive
Cursive's picture

Who says ZH is too bearish or doesn't provide actionable advice?  I mean, I think you'd be stupid to try this, but 9X profits?  Go ahead....

Wed, 01/29/2014 - 13:41 | 4380373 Jaspergers
Jaspergers's picture

Next time something like this happens I'm buying!

Wed, 01/29/2014 - 13:42 | 4380382 Fiat Burner
Fiat Burner's picture

So who here is going to be the first one to try to front run this stupidity from now on?

Wed, 01/29/2014 - 15:07 | 4380792 NotApplicable
NotApplicable's picture

Is? You mean was.

Other than click-bait, I don't understand why Tyler plays this off as ignorance, when it's fairly obvious by now that this is a form of activation energy (the ole pump and dump).

Of course, given that the market is dead/broken, having been replaced by a rigged casino, why wouldn't someone throw $120 out there in an effort to chum the waters?

Wed, 01/29/2014 - 13:43 | 4380389 sixsigma cygnus...
sixsigma cygnusatratus's picture

Is Stratton Oakmont up and running again? 

Wed, 01/29/2014 - 13:45 | 4380395 Dan The Man
Dan The Man's picture

If they're doing this on purpose?...F**KING brilliant pump 'n dump !!!

Wed, 01/29/2014 - 13:53 | 4380397 GooseShtepping Moron
GooseShtepping Moron's picture

I posted about this before but I think it's worth a repeat. Hopefully the Tylers will indulge me. The company behind the MYRA ticker symbol is here.

http://www.myriadentertainmentandresorts.com/

Apparently the company was a venture to build a gaming resort in Tunica, Mississippi. Reading between the lines of their old press releases and media coverage (last updated in 2010), one can sense the characteristic dissimulation and desperation surrounding a project falling apart. This sort of internet archaeology is replete with life lessons for those who undertake it.

Wed, 01/29/2014 - 13:58 | 4380482 walküre
walküre's picture

there is the OTC world and then there is the real world

Wed, 01/29/2014 - 13:46 | 4380398 unplugged
unplugged's picture

here I am, waiting years for my metals to just 4x or 5x – and I could have 9x’d in just one day (today), even tipped off pre-market

 

Wed, 01/29/2014 - 13:46 | 4380402 homiegot
homiegot's picture

Low-information traders.

Wed, 01/29/2014 - 13:48 | 4380410 Poor Grogman
Poor Grogman's picture

Priceless!

Wed, 01/29/2014 - 14:48 | 4380641 Cacete de Ouro
Cacete de Ouro's picture

Wasn't there some stock in the 1930s with the ticker GOLD (a bakery called Gold Bakery or similar) whose stock price rocketed when the gold and silver mining frenzy began?

Some things never change...

Wed, 01/29/2014 - 13:50 | 4380416 Yen Cross
Yen Cross's picture

    Who needs fucking V.C. and bankster loans when you have a world full of fucking retards to fleece for CAPex.

Wed, 01/29/2014 - 13:51 | 4380424 WTFUD
WTFUD's picture

Smells Feinstein fishy!

Wed, 01/29/2014 - 13:52 | 4380427 Dr. Venkman
Dr. Venkman's picture

i tried to buy some first thing this morning but Scottrade (legacy account) nixed it due to no bid/ask. $100 for something funny to talk about. If executed I'd now have $100 gain! That's nearly 2 bottles of Talisker 10!

Wed, 01/29/2014 - 13:58 | 4380481 Hedgetard55
Hedgetard55's picture

The only single malt from the Isle of Skye, ancestral home of the clan MacLeod.

The 15 yr. and the cask strength are also worth seeking out.

 

Wed, 01/29/2014 - 14:08 | 4380517 Dr. Venkman
Dr. Venkman's picture

I will check the others out depending on how big a fortune I make off of MYRA.

 

I spent a night or two in a hostel on the Isle of Skye back in 2005. Our group of three (law students. . .rowdy bunch /s) were in a room with a solo fourth from New Zealand. I will never forget how scared and anti-social he was -- like the three of us were the devil incarnate. Beautiful place though. Welp, that's my (unsolicited) story.

Wed, 01/29/2014 - 15:06 | 4380787 InTheLandOfTheBlind
InTheLandOfTheBlind's picture

in all fairness to the bloke, not wanting to interact around lawyers is as natural as tightening up at the proctologist's office....  

Wed, 01/29/2014 - 15:33 | 4381004 Dr. Venkman
Dr. Venkman's picture

Fair enough, amigazo. Lawyers are detestable people.

Wed, 01/29/2014 - 13:53 | 4380439 ebworthen
ebworthen's picture

Panic buying - one of the hallmarks of rampant speculation and a market completely unhinged from fundamental valuations.

Wed, 01/29/2014 - 13:55 | 4380441 Hongcha
Hongcha's picture

It opened at 0.00 this morning on zero volume.  I thought of buying some myself but glad I did not.  The spread is too wide at .00001 bid and .00002 ask.  But a trade like this makes sufficient sense in this casino.

Wed, 01/29/2014 - 13:57 | 4380470 Dr. Venkman
Dr. Venkman's picture

i noticed someone bought ~1 million shares last week.

Wed, 01/29/2014 - 15:11 | 4380727 Hongcha
Hongcha's picture

Short MYRA right here, right now.  A move like that is just not sustainable.

Back in 1999 and early 2000 you could make some real coin in penny stocks.  That is one major difference between this circus and the last one - many more small playahs walking the Midway.  E-Trade pushing $500 starter accounts.  Step right up.

I had a OTC.BB stock, non-invasive mammogram test, company based in SLC.  I got a tip from someone on a message board, the stock moved and I made a month's salary in one session.  I was floating 3" off the ground.  I had been trading all of 3 weeks.  I thought I was a genius, I was born again.  Women around me on the bus felt the magnetic pull.

The very next day, I gave 1.5 month's salary right back.  I had forgotten to hit the sell button.  I ended up having what I later diagnosed to be a bonafide nervous breakdown, sold the rest of my positions, closed my account, shaved my head and spent two 2000 summer months in Thailand and Cambodia.  Now look at me.

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