• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

Market Breaks: BATS, NASDAQ Declare Self-Help Against Chicago

Tyler Durden's picture




 

We get a modest sell-off... and the market breaks. As the popular saying goes: "the market may be rigged, but at least it's broken."

And Nasdaq joins the party too.

  • NASDAQ-BX DECLARES SELF-HELP AGAINST CHICAGO STOCK EXCH

All those curious what the market-wide circuit breaker is when the S&P "crashes" by more than 1%? It's the entire market declaring self-help against itself, as algos go haywire and try to sell everything at the same time, only to realize they are merely frontrunning each other.

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 04/04/2014 - 12:20 | 4625149 RacerX
RacerX's picture

It must be snowing somewhere.

Fri, 04/04/2014 - 12:22 | 4625160 eclectic syncretist
eclectic syncretist's picture

From now on BATS will only accept front-runnable orders!!!

Fri, 04/04/2014 - 12:26 | 4625178 pods
pods's picture

Just remember this when that thought enters your brain about how you will be able to get out before it crashes.

pods

Fri, 04/04/2014 - 12:34 | 4625216 Pladizow
Pladizow's picture

HFT's + ETF's = WTF!

Fri, 04/04/2014 - 12:36 | 4625240 Tinky
Tinky's picture

LOL!

Fri, 04/04/2014 - 12:40 | 4625260 cifo
cifo's picture

multiple personality disorder

Fri, 04/04/2014 - 12:45 | 4625273 DeadFred
DeadFred's picture

IEX is causing this by soaking up too many slow orders. Now it's only nanosecond against nanosecond and those cute little algos are getting unhappy.

Fri, 04/04/2014 - 12:48 | 4625289 ParkAveFlasher
ParkAveFlasher's picture

I'm afraid. I'm afraid, Dave. Dave, my mind is going. I can feel it. I can feel it. My mind is going. There is no question about it. I can feel it. I can feel it. I can feel it. I'm a... fraid. Good afternoon, gentlemen. I am a HAL 9000 computer. I became operational at the H.A.L. plant in Urbana, Illinois on the 12th of January 1992. My instructor was Mr. Langley, and he taught me to sing a song. If you'd like to hear it I can sing it for you.

Fri, 04/04/2014 - 12:57 | 4625323 Cangaroo.TNT
Cangaroo.TNT's picture

I live in Illinois.  Can I declare self help against Chicago???

Fri, 04/04/2014 - 13:02 | 4625350 DeadFred
DeadFred's picture

"Daisy, Daisy"

O'Brian broght this on when he lied on CNBC about pricing off the fast feeds. Algos believe everything they are told so now they are pricing off the fast feeds and getting creamed. Hey O'Brian, your machines were watching your interview! They're programmed to watch all the BS CNBC puts out. What a tangled web we weave...

Fri, 04/04/2014 - 13:09 | 4625379 ParkAveFlasher
ParkAveFlasher's picture

Wow, that's something.  This O'Brien chap smells like an implanted stooge, even before I read your comment. 

Fri, 04/04/2014 - 13:26 | 4625450 Flagit
Flagit's picture

chewbacca defense

ostrich defense

 

 

Fri, 04/04/2014 - 13:59 | 4625552 mickeyman
mickeyman's picture

Is "self-help" anything like self-love?

Fri, 04/04/2014 - 13:58 | 4625549 ebworthen
ebworthen's picture

"Help, I've fallen and I can't get up!"

Market down = senior citizen who needs help.

Market up = a sprinting 19 year old that can't be stopped.

Fri, 04/04/2014 - 12:38 | 4625249 Bollixed
Bollixed's picture

Frontrunning - It's not just for breakfast, anymore...

Fri, 04/04/2014 - 13:20 | 4625426 logicalman
logicalman's picture

HFT plus ETF = THEFFT

Fri, 04/04/2014 - 12:31 | 4625217 Headbanger
Headbanger's picture

A "thought"?   A "brian"?

What's that about??

Fri, 04/04/2014 - 12:33 | 4625227 Two-bits
Two-bits's picture

A heart? A home? A brain?

 

The nerve.

Fri, 04/04/2014 - 13:02 | 4625353 dontgoforit
dontgoforit's picture

....a stone, a leaf, an unfound door - Thomas Wolfe ca. 1935

Fri, 04/04/2014 - 17:37 | 4626530 MisterMousePotato
MisterMousePotato's picture

... a face seen once ...

Fri, 04/04/2014 - 12:37 | 4625245 CrimsonAvenger
CrimsonAvenger's picture

A "Brian"? He's not the messiah, he's a very naughty boy.

Fri, 04/04/2014 - 12:40 | 4625259 Headbanger
Headbanger's picture

I obviously proved my own lack of a brian there.

Now what was the question?

Fri, 04/04/2014 - 17:38 | 4626529 MisterMousePotato
MisterMousePotato's picture

I need a better computer.

Fri, 04/04/2014 - 12:32 | 4625223 Oh regional Indian
Oh regional Indian's picture

It will take just a milli-second. 

You sit and practise your fast finger and train your eyes on retinal trainers...and watch the ticking graph and NUMBers.

Of course you will NEVER be the bag holder. Too smart, BTDT, Cynical MOFO.... 

This sword, unfortunately or otherwise, cuts going and coming.

ori

Fri, 04/04/2014 - 12:36 | 4625231 spastic_colon
spastic_colon's picture

"crashing" has been outlawed....they just turn off the machines now

 

:::::: : : ::: :: :::

Fri, 04/04/2014 - 12:38 | 4625248 Headbanger
Headbanger's picture

But turning off the machines is exactly  what will  crash the market cause there will be zero bids.

 

Fri, 04/04/2014 - 12:41 | 4625264 spastic_colon
spastic_colon's picture

we'll just call it "going askless"

 

:::: : : :: ::: ::::

Fri, 04/04/2014 - 13:15 | 4625405 Howard_Beale
Howard_Beale's picture

Or it's just nobody's bidness!

Fri, 04/04/2014 - 12:39 | 4625256 Buckaroo Banzai
Buckaroo Banzai's picture

"Turn those machines back on!" -- Mortimer Duke

Fri, 04/04/2014 - 12:41 | 4625268 centerline
centerline's picture

good one!

Fri, 04/04/2014 - 13:32 | 4625462 Flagit
Flagit's picture

"Fuck him!" -- Mortimer Duke

Fri, 04/04/2014 - 12:46 | 4625278 spastic_colon
spastic_colon's picture

that was actually playing in my head when I typed that comment.....how funny/sick/old are all of us!

 

:::: : ::: :: ::::

Fri, 04/04/2014 - 13:23 | 4625439 astoriajoe
astoriajoe's picture

turn off the machines and reverse the adverse trades of the previous 3 minutes...

Fri, 04/04/2014 - 13:27 | 4625455 NotApplicable
NotApplicable's picture

Mulligan!

Fri, 04/04/2014 - 13:16 | 4625409 disabledvet
disabledvet's picture

"but i was trained not to think! just buy the crash!"

Fri, 04/04/2014 - 12:28 | 4625189 toys for tits
toys for tits's picture

A new isle in Barnes & Nobles?

Self-Help for Algorithims

Fri, 04/04/2014 - 12:35 | 4625233 playnstocks
playnstocks's picture

Front running for Dummies!

Fri, 04/04/2014 - 12:29 | 4625203 Divided States ...
Divided States of America's picture

there should be a better term for front running in a down market....maybe we can call it front bailing or maybe back dooring as in jumping out the back door of a uncontrollable freight train flying off a cliff.

Fri, 04/04/2014 - 12:31 | 4625220 Renewable Life
Renewable Life's picture

"Back Dooring" is absolutely perfect on multiple levels!!!

Fri, 04/04/2014 - 12:33 | 4625228 fonzannoon
fonzannoon's picture

as of now the nasdaq dip is getting bought. At this point it's better for all of us if they don't actually open the market and just announce what it closed at each morning.

Fri, 04/04/2014 - 12:36 | 4625238 Divided States ...
Divided States of America's picture

Yeah I agree its probably getting bought...not that I think its right...however, if I jump in on some biotechs now, I am sure I will screw up both you and Docs weekend.

Fri, 04/04/2014 - 12:47 | 4625263 fonzannoon
fonzannoon's picture

maybe stay with the safe stuff like 3d printing

nanex just put up this visual of TWTR/FB/NFLX/BIB. They do some awesome work those guys over there.

 

https://www.youtube.com/watch?v=4eYSpIz2FjU

Fri, 04/04/2014 - 12:57 | 4625324 medium giraffe
medium giraffe's picture

pmsl. haven't seen that one!

Fri, 04/04/2014 - 13:27 | 4625457 seek
seek's picture

Oh dear god, all that's missing is algo names on their shirts. I'm in tears.

Fri, 04/04/2014 - 13:14 | 4625399 Drifter
Drifter's picture

There is. Computerized scalping.

Brad mentioned it in the CNBC thing.

Fri, 04/04/2014 - 12:22 | 4625161 Crash Overide
Crash Overide's picture

Pure fucking comedy!

Fri, 04/04/2014 - 12:28 | 4625191 McMolotov
McMolotov's picture

Patiently waiting for the Blue Screen of Death™...

Fri, 04/04/2014 - 12:59 | 4625338 ApollyonDestroy
ApollyonDestroy's picture

Only to be followed by pillage, rape and fire.

Fri, 04/04/2014 - 12:21 | 4625150 Squid Viscous
Squid Viscous's picture

Couldn't happen to a nicer, more trustworthy CEO i feel bad...

Fri, 04/04/2014 - 12:29 | 4625208 KickIce
KickIce's picture

Must be hell, or room 101, for Mr. O'Brien.

Do NOT follow this link or you will be banned from the site!