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Germany's DAX Halted On Draghi-Driven Dump

Tyler Durden's picture





 

No sooner had the ECB statement been released with its disappointing lack of unsterlizied QE or negative rate promises than European stocks mini-flash-crashed. Most notable was Germany's DAX which collapsed over 200 points only and was promptly halted in the futures markets. Only to magically re-appear after the halt almost unchanged...

 

 


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Thu, 02/06/2014 - 09:18 | Link to Comment synergize
synergize's picture

Can we even call it a market anymore?

Thu, 02/06/2014 - 09:22 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

Markets...must...be....preserved....markets...must...be...preserved....

Thu, 02/06/2014 - 09:28 | Link to Comment Ghordius
Ghordius's picture

imho more a case of dumb algos and even dumber stock monkeys that can't even imagine not getting more liquidity. fucking deep-sea fauna they have become. at least the algos have an excuse: they have been programmed this way

Thu, 02/06/2014 - 09:56 | Link to Comment forwardho
forwardho's picture

While I agree with your hypothesis,  The Stock Monkeys have received the same programming. It is their ignorant hubris which keeps them from thinking they could be wrong. It will also be their undoing.

Thu, 02/06/2014 - 09:24 | Link to Comment Sterling Rod
Sterling Rod's picture

I haven't called it a market for 5 years

Thu, 02/06/2014 - 09:33 | Link to Comment The Dunce
The Dunce's picture

Things are looking good for me.  I live in a paid-for slum and my nipples are pink.  What else could I want?  Word to your mother.

Thu, 02/06/2014 - 10:00 | Link to Comment Sudden Debt
Sudden Debt's picture

YEAH! I was like watching the price of silver and it dropped 5 cents...

5 CENTS!!!

I WAS LIKE: FLASHCRASH!!!!

and than it went up again so I was like: That's good

THAN IT FLASHCRASHED 6 CENTS AGAIN!!!

and than it went up again so I was like: That's good

...

that was my day so far...

How are you doing?

 

Thu, 02/06/2014 - 11:40 | Link to Comment SoilMyselfRotten
SoilMyselfRotten's picture

Your post doesn't make cents!

Thu, 02/06/2014 - 09:19 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Germany's DAX Halted

 

Oops!

Thu, 02/06/2014 - 17:09 | Link to Comment Squid-puppets a...
Squid-puppets a-go-go's picture

germany dropped it's DAX

(dacks is aussie colloquial for pants)

Thu, 02/06/2014 - 09:18 | Link to Comment q99x2
q99x2's picture
Deadly Illness Means there will be fewer Hogs.
Thu, 02/06/2014 - 09:20 | Link to Comment Housicker
Housicker's picture

Some "fat finger" at work ?

Thu, 02/06/2014 - 09:18 | Link to Comment PhilB
PhilB's picture

Dont you think your paranoia is going a bit too far to post this dribble. I know its a slow Thursday but come on. 

Thu, 02/06/2014 - 09:25 | Link to Comment Cangaroo.TNT
Cangaroo.TNT's picture

I'll tell you what:  Start your own financial news aggregator website and run the stories you want to run, with your own commentary, and no one will read it.

Thu, 02/06/2014 - 09:31 | Link to Comment PhilB
PhilB's picture

Just keeping it real. Weeding out the garbage from the useful. Your comments go in the trash bin.

Thu, 02/06/2014 - 09:35 | Link to Comment Cangaroo.TNT
Cangaroo.TNT's picture

Keeping it real?  OK Snoop Diggity Dogg.  You are an abject troll and a moron.

Thu, 02/06/2014 - 09:41 | Link to Comment PhilB
PhilB's picture

If you cant take criticism maybe YOU should go to another site. My criticism are valid. Yours are the inflamatory ones. So piss off punk. You have no powers here.

Thu, 02/06/2014 - 09:52 | Link to Comment Cangaroo.TNT
Cangaroo.TNT's picture

"My criticism are valid."

 

Did your mother kiss you on the forehead after she said that to you DJ Jazzy Trevor?

Thu, 02/06/2014 - 09:58 | Link to Comment PhilB
PhilB's picture

Are you still here with your Ad Hominems? Be off with you now. Shoo fly - Shoo!

Thu, 02/06/2014 - 10:03 | Link to Comment NoDebt
NoDebt's picture

Phil, they HAULTED THE DAX.  It's newsworthy in the investment world.

Thu, 02/06/2014 - 10:19 | Link to Comment PhilB
PhilB's picture

NoDebt. In my view its a non-event these days as we have halts all the time now in this creaky financial system. Couldnt we do without the hyperboles? Words like mini-flash crash and magically reappearing? I mean for gods sake its just not true that there was some major sell off with post magical rally. Its wrong and irresponsible reporting. I understand the bear bias here but lets not invent problems, we have enough of them already!

Thu, 02/06/2014 - 10:46 | Link to Comment EverythingEviL
EverythingEviL's picture

Congrats, I logged in just to tell you what an idiot you are.  Look at the F'ing graph you moron.  No one is inventing problems...obviously you are blind. And if it was a glitch, it's still a problem for you if they report it? Troll

 

Thu, 02/06/2014 - 10:46 | Link to Comment EverythingEviL
EverythingEviL's picture

Congrats, I logged in just to tell you what an idiot you are.  Look at the F'ing graph you moron.  No one is inventing problems...obviously you are blind. And if it was a glitch, it's still a problem for you if they report it? Troll

 

Thu, 02/06/2014 - 11:18 | Link to Comment manofthenorth
manofthenorth's picture

"Try the water Dave , it's really real"

Thu, 02/06/2014 - 09:19 | Link to Comment TheBoyPlunger
TheBoyPlunger's picture

Clean out the stops then take that pig higher.

Thu, 02/06/2014 - 09:23 | Link to Comment youngman
youngman's picture

When they Halted..did they salute anyone...

Thu, 02/06/2014 - 09:26 | Link to Comment negative rates
negative rates's picture

If they did, it would have been in vain, it self corrected like a Fed balance sheet.

Thu, 02/06/2014 - 09:22 | Link to Comment syntaxterror
syntaxterror's picture

Divide by zero error (b/c change in interest rate = 0). Everyone relax. The algos were reprogrammed on the fly. All is well.

Thu, 02/06/2014 - 09:25 | Link to Comment wmbz
wmbz's picture

The old song "do you believe in magic" comes to mind.

Thu, 02/06/2014 - 10:25 | Link to Comment Bearwagon
Bearwagon's picture

I feel more reminded of "Am Arsch der Welt" ;-)

http://www.youtube.com/watch?v=Wv0yZRaPCw4

Thu, 02/06/2014 - 09:27 | Link to Comment moriarty
moriarty's picture

FTSE the same. Do not think it was halted though.

 

Thu, 02/06/2014 - 09:28 | Link to Comment Dr. Engali
Dr. Engali's picture

Nope.... No manipulation here. The PPT and the mafia have one thing in common...... There is no such thing. Actually they have a lot more in common than that.

Thu, 02/06/2014 - 09:29 | Link to Comment Manipulism
Manipulism's picture

But not ONE fucking word about that at any stupid german financial news site let alone our popular-prpganda news sites.

They will simply ignore even a 2000 point crash.

WTF.

All is well-we are EXPORTWELTMEISTER.

Thu, 02/06/2014 - 09:28 | Link to Comment Rising Sun
Rising Sun's picture

another day, another gong show - ONWARD!!!

Thu, 02/06/2014 - 09:41 | Link to Comment Quinvarius
Quinvarius's picture

Yep.  That selloff got the gong alright.  The judges were not amused.  Bring out the "Unknown Buyer in Size", with the paper bag on his head, to entertain the masses in the next act.  The guest judge is Warren Buffet today.  He will buy the gong with a government 0% loan so no one can bang it again. 

Thu, 02/06/2014 - 09:33 | Link to Comment Smegley Wanxalot
Smegley Wanxalot's picture

Funny now they never halt the market when it rises ...

Thu, 02/06/2014 - 09:33 | Link to Comment hugovanderbubble
hugovanderbubble's picture

Market will crash 700 points.

Thu, 02/06/2014 - 09:36 | Link to Comment hugovanderbubble
hugovanderbubble's picture

Trades are under investigation by EUREX

Thu, 02/06/2014 - 09:42 | Link to Comment Housicker
Housicker's picture

Are u sure? I heard otherwise

Thu, 02/06/2014 - 09:37 | Link to Comment Calculus99
Calculus99's picture

Stock index traders are no different to Riverboat gamblers, save for no concealed Derringers.

 

Thu, 02/06/2014 - 09:40 | Link to Comment hugovanderbubble
hugovanderbubble's picture

They know HSBC is in default

Thu, 02/06/2014 - 09:40 | Link to Comment Housicker
Housicker's picture

" Reports suggests that the exchange is happy with the move in the Dax future and no futher investigation is underway "

Great everything is just fine in the Danish Kingdom :)

Thu, 02/06/2014 - 09:45 | Link to Comment Oldwood
Oldwood's picture

Its like watching "reality" TV or even "professional" wrestling. It only has the pretense of reality while actually being, if not scripted, greatly edited.

Thu, 02/06/2014 - 09:55 | Link to Comment Itch
Itch's picture

Careful with that crap, thats my cue to exit all index shorts if we put in another hourly high near that 9230 level...

Thu, 02/06/2014 - 09:56 | Link to Comment the not so migh...
the not so mighty maximiza's picture

true price discovery in free markets, untill it is not

Thu, 02/06/2014 - 10:01 | Link to Comment semperfi
semperfi's picture

Its not even rigging anymore.  Its just plain setting - like setting your thermostat to 72 F.

Thu, 02/06/2014 - 10:05 | Link to Comment T-NUTZ
T-NUTZ's picture

Plato's cave

Thu, 02/06/2014 - 10:43 | Link to Comment PapSmear
PapSmear's picture

Cramer just said, "Green Mountain Coffee, until today, was one of the great shorts ever." GMCR UP 38% Today.

Thu, 02/06/2014 - 10:49 | Link to Comment f16hoser
f16hoser's picture

...and I thought the Germans were smarter than this. IT's time to leave the EURO!!! Simple really.

Thu, 02/06/2014 - 11:25 | Link to Comment EuropeanSectorI...
EuropeanSectorInvestor's picture

Actually, that the DAX-Future was "halted" is a safety mechanism of Deutsche Boerse called "volatility interuption" to prevent flash crashes to spread in case of any fat fingers. Very very rare to see that in the FDAX, though, however: today we did.

Here is the announcement:

Dear Sirs,

 

According to the board decision of the Frankfurter Wertpapierbörse of December 6, 2011 about the change of the DAX-Future (1.5%) we would like to inform you about the suspension of the performance measurement for all designated sponsors in all sponsored equities for the time period from 13:46 until 14:46 (CET).

Cheers, E.S.I.

 

Thu, 02/06/2014 - 12:42 | Link to Comment Paracelsus
Paracelsus's picture

These flash crashs remind me of the movie Predator where the creature turns off his electronic camoflage for a moment to say "here I am boys!",then turns it back on,swinging from a vine like some SyFy Tarzan.

Also when he takes off his mask,he looks like some form of shrimp/lobster.

Could it be a vampire squid? A subtle joke by the Hollywood crowd?

And weird phosphor like green blood.Somebody do their Masters thesis on this imagery?

No I have not been smoking bongs....

Thu, 02/06/2014 - 13:47 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

New & improved!
Federal Reserve has auto-print but the EU has auto-UNDO to restore your saved progress!

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