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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 | Link to Comment starman
starman's picture

this is to fucking funny! 

Wed, 01/29/2014 - 13:39 | Link to Comment AllThatGlitters
AllThatGlitters's picture

This is dumb.

Wed, 01/29/2014 - 13:47 | Link to Comment nuclearsquid
nuclearsquid's picture

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

 

Wed, 01/29/2014 - 14:06 | Link to Comment 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 | Link to Comment Headbanger
Headbanger's picture

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

Wed, 01/29/2014 - 14:14 | Link to Comment 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 | Link to Comment 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 | Link to Comment Exponere Mendaces
Exponere Mendaces's picture

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

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

I think he did it just to feed the algos

Wed, 01/29/2014 - 13:42 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment seek
seek's picture

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

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

miss her music mixes much.

Wed, 01/29/2014 - 13:52 | Link to Comment 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 | Link to Comment 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 | Link to Comment taketheredpill
taketheredpill's picture

 

 

Market Cap $49,000.

Oh my.

Wed, 01/29/2014 - 13:38 | Link to Comment 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 | Link to Comment WhiteHose
WhiteHose's picture

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

Wed, 01/29/2014 - 13:51 | Link to Comment StandardDeviant
StandardDeviant's picture

Well, one, anyway.  Not exactly heavy volume.

Wed, 01/29/2014 - 13:40 | Link to Comment piceridu
piceridu's picture

Idiocracy was truly a documentary.

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

Fuck you!  I'm eating!

Wed, 01/29/2014 - 13:46 | Link to Comment 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 | Link to Comment 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 | Link to Comment pragmatic hobo
pragmatic hobo's picture

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

Wed, 01/29/2014 - 13:41 | Link to Comment piceridu
piceridu's picture

Stupid people I understand but stupid computers?

Wed, 01/29/2014 - 13:40 | Link to Comment 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 | Link to Comment Jaspergers
Jaspergers's picture

Next time something like this happens I'm buying!

Wed, 01/29/2014 - 13:42 | Link to Comment 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 | Link to Comment 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 | Link to Comment sixsigma cygnus...
sixsigma cygnusatratus's picture

Is Stratton Oakmont up and running again? 

Wed, 01/29/2014 - 13:45 | Link to Comment 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 | Link to Comment 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 | Link to Comment walküre
walküre's picture

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

Wed, 01/29/2014 - 13:46 | Link to Comment 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 | Link to Comment homiegot
homiegot's picture

Low-information traders.

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

Priceless!

Wed, 01/29/2014 - 14:48 | Link to Comment 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 | Link to Comment 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 | Link to Comment WTFUD
WTFUD's picture

Smells Feinstein fishy!

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

Fair enough, amigazo. Lawyers are detestable people.

Wed, 01/29/2014 - 13:53 | Link to Comment 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 | Link to Comment 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 | Link to Comment Dr. Venkman
Dr. Venkman's picture

i noticed someone bought ~1 million shares last week.

Wed, 01/29/2014 - 15:11 | Link to Comment 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.

Wed, 01/29/2014 - 13:53 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Hopefully some of the readers who made a killing on this will pay some of it foward voluntarily to keep this place up and running.

Wed, 01/29/2014 - 13:53 | Link to Comment Dan The Man
Dan The Man's picture

From now on, I'm paying attention.

Bookmark this one. Lol!

http://www.acronymfinder.com/

 

 

Wed, 01/29/2014 - 13:54 | Link to Comment DavrosoftheDaleks
DavrosoftheDaleks's picture

Even crazier is all the secondary offerings being proposed today, along with a few IPO's.  Definitely a top.

Wed, 01/29/2014 - 13:54 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

Aren't American pharmaceutical companies just the "bomb"?!!!

Wed, 01/29/2014 - 13:55 | Link to Comment Biggieshort
Biggieshort's picture

Record margin debt + Record number of stupid people in the market = KABOOM!

Wed, 01/29/2014 - 13:55 | Link to Comment gwar5
gwar5's picture

Sell! Sell! Sell!

 

 

Wed, 01/29/2014 - 13:56 | Link to Comment walküre
walküre's picture

OTCMKTS:DONG

not yet taken

Wed, 01/29/2014 - 13:58 | Link to Comment Frank N. Beans
Frank N. Beans's picture

that's quite an erection you have there Myra

 

 

Wed, 01/29/2014 - 14:05 | Link to Comment replaceme
replaceme's picture

What did PT Barnum say?  Lot of minutes since he said that.  Maybe Obama needs to set up an agency to stop these buys, but still guarantee returns.  Good returns.

Wed, 01/29/2014 - 14:06 | Link to Comment denverdolomte
denverdolomte's picture

Wheres the great Cramer to explain this intelligently to us..../sarc

Wed, 01/29/2014 - 14:18 | Link to Comment Bastiat
Bastiat's picture

It's got electrolytes.

Wed, 01/29/2014 - 14:25 | Link to Comment John Law Lives
John Law Lives's picture

Algobots at work...???  Let's hope they don't bring the world down on our heads.

Wed, 01/29/2014 - 14:25 | Link to Comment swass
swass's picture

Time for pump and dump on MyRA?  Good thing it isn't ticker DONG.

Wed, 01/29/2014 - 14:32 | Link to Comment SAT 800
SAT 800's picture

speaking of market idiocy that lunch time rally sure worked out nicely The futures for the Dow, Mar. is down 145pts. The futures traders don't seem to be too enthusiastic about this great opportunity.

Wed, 01/29/2014 - 14:33 | Link to Comment Spungo
Spungo's picture

This is hilarious. Great prediction Tyler!

Wed, 01/29/2014 - 15:11 | Link to Comment NotApplicable
NotApplicable's picture

Yet would it have happened without that prediction?

So much for neutral observation...

Wed, 01/29/2014 - 16:36 | Link to Comment tip e. canoe
tip e. canoe's picture

So much for neutral observation...

is there such a thing?

Wed, 01/29/2014 - 15:08 | Link to Comment Smiley
Smiley's picture

Team Pink Sheets has got to be loving this!

Wed, 01/29/2014 - 15:09 | Link to Comment Pool Shark
Pool Shark's picture

 

 

WHOOO HOOOO!!!

I'm ridin' the MyRA train; looking for the greater fool!

[More entertaining than blowing a couple bucks on lottery tickets, and the odds are much better...]

Wed, 01/29/2014 - 15:20 | Link to Comment Carnegie_IB
Carnegie_IB's picture

try option strategies, they payout better, especially ratio backspreads on eps names reporting. 

Wed, 01/29/2014 - 15:18 | Link to Comment Carnegie_IB
Carnegie_IB's picture

greed, fear, hope, and ignorance. the latter the case in point. 

Wed, 01/29/2014 - 15:24 | Link to Comment Carnegie_IB
Carnegie_IB's picture

this is market maker manipulation at it's best. selling 1 million shares to the bag holders at 10...priceless. 

now who is there to sell to? 

Wed, 01/29/2014 - 16:36 | Link to Comment tip e. canoe
tip e. canoe's picture

the FED?

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