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.


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.

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RacerX's picture

It must be snowing somewhere.

eclectic syncretist's picture

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

pods's picture

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


Pladizow's picture

HFT's + ETF's = WTF!

cifo's picture

multiple personality disorder

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.

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.

Cangaroo.TNT's picture

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

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...

ParkAveFlasher's picture

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

Flagit's picture

chewbacca defense

ostrich defense



mickeyman's picture

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

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.

Bollixed's picture

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

Headbanger's picture

A "thought"?   A "brian"?

What's that about??

Two-bits's picture

A heart? A home? A brain?


The nerve.

dontgoforit's picture

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

CrimsonAvenger's picture

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

Headbanger's picture

I obviously proved my own lack of a brian there.

Now what was the question?

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.


spastic_colon's picture

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


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Headbanger's picture

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


spastic_colon's picture

we'll just call it "going askless"


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Howard_Beale's picture

Or it's just nobody's bidness!

Buckaroo Banzai's picture

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

Flagit's picture

"Fuck him!" -- Mortimer Duke

spastic_colon's picture

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


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astoriajoe's picture

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

disabledvet's picture

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

toys for tits's picture

A new isle in Barnes & Nobles?

Self-Help for Algorithims

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.

Renewable Life's picture

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

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.

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.

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.

medium giraffe's picture

pmsl. haven't seen that one!

seek's picture

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

Drifter's picture

There is. Computerized scalping.

Brad mentioned it in the CNBC thing.

McMolotov's picture

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

ApollyonDestroy's picture

Only to be followed by pillage, rape and fire.

Squid Viscous's picture

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

KickIce's picture

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