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Why The Institutions Wait Until After Market Close

Tyler Durden's picture




 

Until around 3pmET, stocks had been slowly but surely rising - albeit disconnected from credit's reality - in a slow dead-cat bounce of a day. When the Puerto Rico news hit, stocks tumbled to reconnect with credit and VWAP and looked like things were going to get ugly when we were 'supposed' to have a green day of hope. VIX was instantly smashed lower again and the machines lifted the S&P 500 cash index to the highs of the day just into the US close... and then on no news, no blaring headline of catalclysmic regime change, S&P 500 futures tumbled 6 points to the day-session's late lows. That's why the big boys play late...

 

 

and caught down perfectly to credit...

 

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Tue, 02/04/2014 - 17:33 | 4401630 DrunkMath
DrunkMath's picture

You still never said why?

Tue, 02/04/2014 - 17:37 | 4401644 nuclearsquid
nuclearsquid's picture

yeah.  would really like a layman explanation here. 

Tue, 02/04/2014 - 17:39 | 4401649 max2205
max2205's picture

Dark pool trades hit the tape ah....simple

Tue, 02/04/2014 - 17:41 | 4401661 knukles
knukles's picture

Never tell a Puerto Rican window washer you want the windows Spic and Span

Tue, 02/04/2014 - 17:48 | 4401675 Divided States ...
Divided States of America's picture

Yeah i dont understand whats the point of this except to mark stocks higher for daily valuation purposes.

Tue, 02/04/2014 - 20:32 | 4402149 asteroids
asteroids's picture

Come on, do you really think these markets are free and fair and that they aren't being manipulated at every possible opportunity? The markets are there to fleece muppets, today is a day to sucker them in.

Wed, 02/05/2014 - 18:41 | 4405809 gallistic
gallistic's picture

"Spic" and span huh? What is this, the fourth time you post that lame joke? Or is it the fifth?

Hilarious, but you really need new material, you dumb bigot. Or at least switch it up and use some of your (also overused) nigger jokes.

Tue, 02/04/2014 - 17:43 | 4401660 i_call_you_my_base
i_call_you_my_base's picture

So that the broader market isn't spooked, which would drive down prices while they unload.

Tue, 02/04/2014 - 17:53 | 4401690 El Oregonian
El Oregonian's picture

Yes, known as the "ENRON End-Around".

Tue, 02/04/2014 - 18:23 | 4401781 I am more equal...
I am more equal than others's picture

 

 

I believe the correct term is the Enron Reach Around with a complimentary anal tap.

Tue, 02/04/2014 - 17:47 | 4401674 aVileRat
aVileRat's picture

The why is found in Tyler's overnight events preview posted on Monday.

Deadcat bounce expected. Overnight is going to be watching the flight to T's and ECB who must reconcile the Greek to German structural reform agendas. 

If tech's can report increased revenue from retailers/click-bots then it will be net up. all else? dull on double pomo.

Don't hold your breath waiting for Godot to untaper.

 

Tue, 02/04/2014 - 18:48 | 4401848 Ban KKiller
Ban KKiller's picture

Liquidity issues are already ruining banks. Gov't steps in with hot money to try to deal with a hot money problem. In tighter and tighter circles until some one doesn't get paid. Lehman, of course. 

The excuse will be bad loans. Good show...

Tue, 02/04/2014 - 19:08 | 4401908 disabledvet
disabledvet's picture

this is Oppenheimer funds I believe.

Tue, 02/04/2014 - 18:05 | 4401718 Stoploss
Stoploss's picture

http://www.zerohedge.com/news/2013-05-29/what-do-credit-markets-know-sto...

 

It's called a search box, it is to the right of the browser, directly under your login.

Learn it, know it, use it..

Tue, 02/04/2014 - 21:45 | 4402382 DrunkMath
DrunkMath's picture

I cantz figurez its out! 

Tue, 02/04/2014 - 18:23 | 4401779 Sudden Debt
Sudden Debt's picture

because their daytime job is flipping burgers at Wendy's and they only got acces to a computer when the manager goes home.

Tue, 02/04/2014 - 17:33 | 4401631 XenoFrog
XenoFrog's picture

I would assume it's why they do everything else they do. Steal everything they can including the nails that once held the stuff down.

Tue, 02/04/2014 - 17:45 | 4401672 CvlDobd
CvlDobd's picture

I have interests outside of finance and corruption. Mostly motorcycles but that's besides the point. My point is that in perusing other sites, forums, and just talking to people in real life. People are starting to buy into the bullshit. I'm starting to get people using a high stock market as evidence that things are improving. A new Waffle House halfway between two real towns has recently been cited to me as evidnce that real estate and construction are fixed. Finally, wealth and personal freedoms are seeing a bunch of backlash. I really really really do not like the direction we are heading. So many people think things are rosy so if I say anything negative or even mention monetary policy I'm instantly dismissed as a paranoid conspiracy theorist. This isn't going to end well, at least if you have an independent and non corrupted spirit. The government's boots are heavy upon our necks.

Tue, 02/04/2014 - 17:54 | 4401698 i_call_you_my_base
i_call_you_my_base's picture

There is a societal trend where unhappiness and discontent is frowned upon. The thinking is that if you are unhappy or pessimistic, it must be because there is something wrong with you or that you have failed as a human being.

But in truth, it's just a front. People are just as unhappy, cynical, etc, as they have always been. It's that society is altering what is socially acceptable in terms of thinking and demeanor. Anyway, IMO, it causes a lot of people to go off the rails.

Tue, 02/04/2014 - 18:10 | 4401745 nodhannum
nodhannum's picture

Dear Leader and the "Party" do not like unhappy!  You vill be happy or go to the dogs ala Kim Jong Un style!

Tue, 02/04/2014 - 18:34 | 4401805 CvlDobd
CvlDobd's picture

I've had depression issues my whole life so I've gotten used to the, "Well just don't be depressed and be happy instead" line of thinking in the world. I just pine for a day where people are rewarded and left to fail if they screw up. It's so simple yet I'm brandished an asshole who lacks compassion for thinking that way. Personally, I just feel like the lady who has 5 kids from 4 men is not of my doing and is therefore not my financial responsibility.

 

I was fucked over by Wells Fargo as a result of my employment there. I lost a lot of money as a result of their douchebaggery and to an extent, my decision to accept a job there. My decision to accept a job there was in no way the fault of the woman with 5 children from 4 men so I don't feel as though it is her responsibility to chip in and me me financially whole.

Why oh why is that such a strange concept to people?

 

Tue, 02/04/2014 - 19:34 | 4401994 Tall Tom
Tall Tom's picture

Well the woman can go fuck a 5th BOY...

 

But her five children did not exactly choose to be parented by the woman.

 

And as for the overgrown BOYS that had their way with the loose goose...They are Mr. Turnip.

 

Of course you can JAIL THEM. But that will be more expensive in the long run.

 

The unfortunate Fifth BOY will have to tie a 2X4 across his ass so he does not fall in.

 

So when you tell others that you do not care about the children then it is to be expected that some others may brand you as one that lacks compassion. (That really is not a big deal.)

 

But I believe that where your problem lies is that you are reliant on outside sources for validation instead of being SELF RELIANT.

 

Oh...You may be Self Reliant when it concerns taking care of your own, personal, Material Needs.

 

But...That is only part of being Self Reliant.

 

Being Self Reliant is not relying upon anyone else IN ANY FACET OF YOUR LIFE. That means Physically Self Reliant, Emotionally Self Reliant and Spiritually Self Reliant.

Some may then accuse you of being "Aloof" if you are Emotionally Self Reliant. 

And some may even accuse you of being Self Righteous when you become Spiritually Self Reliant..

 

But who really cares what one might say when you become truly Self Centered?

 

Let me warn you that you will be at a very, very, lonely place when you achieve that.

 

But it will be your decision, with all of the consequences of the decision, and you will be totally responsible for making that decision in your life. Taking responsibility for one's actions is the key, after all.

 

Just be willing to accept, joyfully, all of the consequences of making that decision.

 

Now to be clear I am not writing that it is a "Bad" Decision. I am not writing that it is a "Good" Decision.

 

I am just providing a description...for you...because, after all...what I wrote is all about you.

Wed, 02/05/2014 - 00:09 | 4402788 CvlDobd
CvlDobd's picture

And here I am

Tue, 02/04/2014 - 20:35 | 4402158 o2sd
o2sd's picture

Have you read the 48 Laws of Power? Good read, but the most important part of the book is in the introduction, where he covers the political correctness of talking about power plays. Greene notes that everyone is engaged in one kind of powerplay, and the victim role is in fact a very effective power play. Everybody is trying to play you for more power, including the woman with 5 children from 4 men. Her power play is that it is considered impolitic or impolite to talk about the poor as if they are responsible for their current situation.

If you haven't read it already, I suggest doing so. It cured my depression.

 

Wed, 02/05/2014 - 00:06 | 4402782 CvlDobd
CvlDobd's picture

I'll check it out. Thanks.

Tue, 02/04/2014 - 18:51 | 4401853 Son of Loki
Son of Loki's picture

It's more then that. Unhappy investors don't buy stocks. Unhappy consumers don't buy iCrap and overpriced houses.

It's bad for the economy to have unhappy people moaning and groaning. They want smiling and maxing out credit and so on. Why do you think so-called, "Motivational Speakers" make so much money?  When I hear a company has hired one of those Flim Flam people I know that group is in deep water with job cuts and lower profit coming around the corner soon.

Tue, 02/04/2014 - 17:34 | 4401632 FuzzyDunlop21
FuzzyDunlop21's picture

fuck you kevin henry

Tue, 02/04/2014 - 17:36 | 4401640 Rentier88
Rentier88's picture

The fix is in...

Tue, 02/04/2014 - 17:38 | 4401645 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Are you insinuating that the markets are manipulated?

LOLZ.

 

 

 

Tue, 02/04/2014 - 17:40 | 4401652 The Abstraction...
The Abstraction of Justice's picture

Today, I Mark Anthony Taylor, for that is my real name,  demanded compensation from Deutsche Bank for the manipulation of silver price, as they have sold me silver, and I was forced to sell it to live for the past three years. So if you hear some guy from Frankfurt was found suicided, you know that's me, and why I was killed. 

 

Regards,

Mark

Tue, 02/04/2014 - 19:19 | 4401915 HungryPorkChop
HungryPorkChop's picture

We've entered uncharted territory which is ripe with danger.  To coin a phrase from Gerald Celente, "when people lose everything, they lose it.."  I used to think this would end like the 1970's with several years of high inflation but no longer believe that is true.  There's just too much wealth concentrated in too few hands.  Historically speaking this is bad mojo.

Tue, 02/04/2014 - 20:06 | 4402076 kurt
kurt's picture

I had enough savings to last the rest of my life until the FED artificially lowered interest rates. I HAD to tap the principal. Now, due to age and arthritis, I must have social security. The whore media is puking up a methodical campaign to tell me "it won't be there."

Who is going to reimburse me for that? Social Security Had Better Be Money Good

Stay alive Mark if only to drive the stake into the heart of the beast. 

Thanks,

Kurt

Tue, 02/04/2014 - 17:48 | 4401680 BlueStreet
BlueStreet's picture

Dow failing at the 200 day could have something to do with it too. 

Tue, 02/04/2014 - 17:49 | 4401682 papaswamp
papaswamp's picture

...and in other news...Justice Scalia predicts internment camps in the US future... all is well.

http://washingtonexaminer.com/justice-antonin-scalia-says-world-war-ii-s...

Tue, 02/04/2014 - 18:05 | 4401719 ParkAveFlasher
ParkAveFlasher's picture

I want to hear one thing from Scalia, and that's how good his perpetually inflation-protected slab of porterhouse tastes when prepared perfectly by the finest chefs that taxpayers can't afford.  It would be a more direct form of irony, or admission of lameness, than that comment.

Tue, 02/04/2014 - 17:50 | 4401683 Peter Pan
Peter Pan's picture

If everything is manipulated is it in fact manipulation or is it the new normal?

Tue, 02/04/2014 - 17:59 | 4401706 TomGa
TomGa's picture

"Don't worry! Be happy!"

Tue, 02/04/2014 - 18:12 | 4401742 tocointhephrase
tocointhephrase's picture

Don't worry...be happy! 

Tue, 02/04/2014 - 17:54 | 4401691 halfawake
halfawake's picture

it's so legitimate it makes me proud to be merikan

Tue, 02/04/2014 - 17:58 | 4401707 Bubenthauser
Bubenthauser's picture

Tyler, that is BS. Big boys can't find the volumes they want to fill their big positions in AH. It's mostly algo's that trade AH, and yes, mostly manipulative. 

As for the market: it's gonna get back down to base a bit, then bounce harder. Then you'd better short at will.

 

Tue, 02/04/2014 - 18:00 | 4401709 Rathmullan
Rathmullan's picture

USDJPY bounced off lows of 101.20s to 101.60s and that's all one needs to know.

Tue, 02/04/2014 - 18:10 | 4401723 Wait What
Wait What's picture

this article is like the girl who leaves you with blueballs. but i guess that's why god invented hookers, er, i mean, call girls. 'search box' indeed.

Tue, 02/04/2014 - 18:09 | 4401733 NoWayJose
NoWayJose's picture

This is exactly why you can no longer have any open stop loss orders any more.  Don't be too surprised if they grabbed the stack on a quick AH dip, and then will turn the market green in the morning.  

Tue, 02/04/2014 - 18:21 | 4401780 Spungo
Spungo's picture

Can someone explain where that "credit" line comes from? How do I find that on google or yahoo finance?

Tue, 02/04/2014 - 18:27 | 4401793 U4 eee aaa
U4 eee aaa's picture

Maybe one day we will get 24 hour trading 'for the rest of us' in order to keep these crooks (a little more)honest.

Tue, 02/04/2014 - 18:38 | 4401825 g'kar
Tue, 02/04/2014 - 19:03 | 4401896 Barry McBear
Barry McBear's picture

Ya they ran me over on that.  Well played boys.

Tue, 02/04/2014 - 20:03 | 4402073 T-NUTZ
T-NUTZ's picture

a lot of old skoolz traders are making money now.  if this keeps up the CNBC crowd is gonna get butt-raped all the way down...

Wed, 02/05/2014 - 02:15 | 4403006 Financial Cold ...
Financial Cold Fusion's picture

So, I'm guessing what you're really saying here is that institutional sellers wait until the predictable VIX smash late in the session, not AH to sell into strength.  I'm sure some volume data can back that up, care to include it?

Wed, 02/05/2014 - 02:15 | 4403007 Financial Cold ...
Financial Cold Fusion's picture

So, I'm guessing what you're really saying here is that institutional sellers wait until the predictable VIX smash late in the session, not AH to sell into strength.  I'm sure some volume data can back that up, care to include it?

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