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Watch As HFT Debate Devolves Into Epic Screamfest In Milliseconds
The clearly agitated BATS CEO came out swinging, blasting Katsuyama and Lewis "Shame On You," for apparently telling the truth of what occurs in the stock 'market and letting everyone in on it'. The tension grows when he presses Katsuyama on whether he really believes it is rigged... who then erupts "I believe the markets are rigged.. and that you are a part of the rigging." Then the gloves come off "you wanna do this, let's do this!" and then it got worse (or better)...
Just the first 3 minute round in this epic clip is worth the price of admission (and note the floor traders cheers in the background)... but to watch the status quo crushed under the awesome honesty of reality as this is all exposed, watch on...
And here's the highlights...
Who won? (based on CNBC's own ongoing poll - link)
Things escalated a little for O'Brien (as 3 hours later)...
As a gentle reminder of why the BATS CEO is upset to start with...
How a rogue algo crushed the BATS IPO
In Nanex' own words:
Start at line 192 -- these weren't stale quotes from Nasdaq by any means. These were highly accurate and precisely updated quotes from a sophisticated algorithm programmed to take BATS's price to 0. You can see the BATS trades just before the algo on Nasdaq starts up. In other words, after the BATS trades print, everything is fine (except of course for BATS' system). Nasdaq's system is just fine. So is CQS (the SIP). That algo did its job with the precision of a master watch maker.
The data and charts make this abundantly clear. The trade(s) that shut down Apple would be considered stale/bad quotes. But not those 500+ trades on Nasdaq.
Nanex' verdict:
It had to be someone who's machines are directly connected to Nasdaq because they used Intermarket Sweep Order orders.
And visually:
Look at the timing! There are many quotes lasting less than 1/10,000 of a second in there! (10 quotes/millisecond). And note the almost perfect 45 degree line in log-scaled blue line below.
Had to be from same algo. Way too perfect. Way. Too. Perfect.
If BATS' system hadn't failed, this algo would have likely been obscured.
Alas, BATS did fail, and the result was March 2012's epic embarrassment for BATS which already cost the CEO his chairmanship, and the firm hundreds of millions in fresh equity, but also which destroyed any hope that the retail investor may be coming back to what is now a permanently and terminally broken market.
And with this occurring now, it is unlikley O'Brien will ever get it back...
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The ol' mafia gangsters sons and daughters got an education and made their business legitimate as Al Pacino promissed his wife in The Godfather ...
One thng has been clear for years now..
The fucking markets, ALL markets are rigged, LIBOR GOLD SILVER FOREX any fucking goddamned thing you care to mention.
The ONLY way you can be sure to get any kind of half decent chance is to ONLY evev trade on inside information.
I only ever trade on inside information as to trade in any other way is to offer your open wallet to a bunch of fucking starving jew boys whose favorite character was called fagin.
Only trade on inside information, and if you cant get any then do not trade ..
Both of these clowns are entertainment for the serfs. I liked it.
One asshole cheating another more greedy asshole in a rigged game of Detroit roulette. Neither of them eat good food...
Silver beaches.
Brokers' trading programs
simply need pull-down sets of
what-if clicks in case HFT
inflates volume 1.25x, 1.5x,
etc., obviously effecting
anything volume affected, such
as oscillators.
CNBC needs more of this.
Letting OBrien speak on television is just about as brilliant as JP Morgan soliciting questions on Twitter.
Next up - we need to see THIS on 60 Minutes! A fraud that is MANY X greater than ENRON + Madoff + Corzine COMBINED!!!
Facebook does not allow audits.
Naturally, Brar began disputing his bill with Facebook. He wanted his clicks audited by a third party, to see how many were genuine. Then he discovered that Facebook's terms of service forbid third-party verification of its clicks.
Read how Facebook is a fucking piece of SHIT! http://www.sfgate.com/technology/businessinsider/article/This-Man-s-600-000-Facebook-Disaster-Is-A-5258472.php?t=7c5e3ab580#page-2
And then read how it works:
http://techcrunch.com/2009/06/26/facebook-click-fraud-101/
Facebook... it's $62 a share. Kind of of says it all!
If one were to have been time warped to today from back before FB IPO'd I'd think that it would get a reaction like this:
http://www.youtube.com/watch?v=bt8w3qlzZhs
(hey, really, it's kind of cool, though silly)
MH-370 to Diego Garcia has gone Viral in MSM
http://www.smh.com.au/world/mh370-passengers-cleared-but-crew-still-unde...
MH-370 plane was diverted by CIA operatives masquerading as passengers to the US military installation in Diego Garcia in the Indian Ocean.
According to the theory, cargo in the plane was related to the technology of unmanned drone flights.
*
Many eyewitnesses in Malaysia said the 'passengers' looked like CIA or Mossad Agents. The current theory is they gained access to cockpit and took control
The first transcript "Good Night, and Bye-Bye xx00xx", the wife of the captain made clear, "THAT's not my
husbands voice", now the Malay gubmint found an old recording that say's "MH-370 out, good night", that is her husband.
You guys are so stupid, it takes seconds to point out the flaws.
Transcripts DO NOT SAY anything. A transcript is words on a document or screen.
So they wife saying 'that's not his voice' makes no sense. Why? Because there is nothing to HEAR on a transcript.
Try again, conspiracy idiots dwelling in mom's basement, collecting SSDI and munching on hot pockets.
Try again...
You need to ask yourself WHY it is that anyone who disagrees with you is capable of pointing out multiple logical flaws in milliseconds when they look at your 'proof' or posts.
I didn't read the article. And, I didn't down-arrow you. Just wanting to ask whether the transcript is OF the wife reacting to hearing the tower's recording.
That Prick Joe Kernan from CNBC defending HFT saying it doesn't really matter, CNBC is the biggest pile of shite on TV wihtout exception
Small potatoes when a US VP declares that deficits don't matter, don't you think?
Not defending Kernan. Just seems that his point might be perfectly valid, though the context of it being so doesn't sync. (if fraud is all sanctioned then it really doesn't matter- what, concerned over breaking a broken system?)
And, really, why do people froth so much about CNBC? Don't like it? Don't fucking watch. I mean, if people are dumb enough to take advice from a TV do you really think that you have any chance at educating them? Or, is it a matter that you don't believe that a TV station should be paying people like this? It's their money, if they want to waste it they should be free to do so.
BAD shit fails. I suppose that you're free to help it fail, but me, personally, I value my energy too much to engage in such practices.
CNBC now just showing just the clip with O'Brian saying "shame on you" what cunts they are, now making Lewis out as the Villain
What's the Frequency, Kenneth?
RE
...for anyone who regularly watches or trades securities or commodities HFT activity is easy to spot without Nanex tech.
simply watch for unnatural unexpected movement that is out of place without apparent cause.
Silver is a good example.
Is it possible to set up an algo that would trigger a front run on HFT, and then to cancel the original order, leaving the HFTer holding the bag?
Or in other words can anyone think of a way to fuck up the HFTers, using their own game?
the possible orders are negotiated with the exchanges. Good luck to persuade them to kill their best customers !