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Unleashed Algos Go Batshit In Bankrupt GTAT
GT Advanced technologies has been halted numerous times since re-opening post-bankruptcy
$GTAT now halted 6 times by LULD (3 to the upside, 3 to the downside)
— Eric Scott Hunsader (@nanexllc) October 6, 2014
$GTAT - 4 LULD halts so far (3 hit upper limit, 1 hit lower) pic.twitter.com/m1685mQwzK
— Eric Scott Hunsader (@nanexllc) October 6, 2014
This is how price discovery occurs in a massively overvalued company, with no cash flows, and a record short interest...
$GTAT hit 7th halt at $0.81
— Eric Scott Hunsader (@nanexllc) October 6, 2014
$GTAT hits 8th halt - to the upside at $0.87
— Eric Scott Hunsader (@nanexllc) October 6, 2014
$GTAT - 9th halt, this one to the upside at $0.96
— Eric Scott Hunsader (@nanexllc) October 6, 2014
Let's review the 9 LULD halts in $GTAT pic.twitter.com/UfmYauzuqj
— Eric Scott Hunsader (@nanexllc) October 6, 2014
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Fucking unreal. no wonder my buy order for $0.00000001 keeps failing.
Liquidity gaps?
If Apple buys the IP and assets in liquidation then you're paying too much.
If its a reorg -- then a buy at $0.01 or so seems like a deal.
Thanks Tyler.
I always thought batshit was two words.
Up coming attractions to all these ponzi stocks, Ali Blah Blah included.
you don't get to buy at that price. only the squid gets to buy at that price. is your name squidly? i don't think so.
Just providing "liquidity"...
WE NEED A BUTLERIAN JIHAD AGAINST THE MACHINES....
Never to forgive, never to forget.
Serena was right then and is right now.
scenarios like these are needed every once in a while to create the appearance of a real market,
Kinda helps with this one cause the market cap is about equal to what is in the cushions of Buffett's couch.
pods
If Goldman loses a couple thousand, think it's worth getting the trades cancelled? Actually it's probably programmed into the exchange computers, so nevermind
You can cancel the trades but mcVain Inc still opens at zero tomorrow.
"Ye Olde Japanese Zero just smashed into the conning tower and as good as that glass is...it's still not gorilla glass."
Good thing that aircraft carrier has a computer back up to keep the ship's propellers turning and the steering program running. As anyone who knows anything about an ambush knows "once you stop moving you're a sitting duck."
Scenarios like this are needed every once in a while to created the appearance that the circuit breakers put in place since the last crisis will save you from "volatility" the next time everyone tries to get out the same small door at the same time.
See, worked perfectly. Everyone is safe.
You mean circuit boards.
They have power in situ so the only reason for circuit breakers is because the nuked has gone down and the natural gas clowns are now providing your (highly) unstable electricity supply.
Russia's head of the State Precious Metals and Gems Repository (Gokhran) hopes it won't have to use palladium as a trade war weapon and stop selling paladium, because it can crash world car production.
http://www.vesti.ru/doc.html?id=2020395
...
State-owned Gokhran has said repeatedly it planned to start palladium purchases from Russian miners, but has yet to take action.
"Plans (to start palladium purchases for the state stock) will be realised," Yurin was quoted as saying by Interfax. Asked whether these purchases would start in 2015, he said: "Most likely yes."
Gokhran has been buying gold on the Russian market this year, he added.
Gokhran was influential on global platinum group metals (PGMs) markets in the 1990s and 2000s, when its palladium stocks, accumulated during the 1970s and 1980s, came to the market, depressing prices.
While its palladium reserves are a state secret and analysts try to guess the level each year, most in the industry believe stocks have been heavily depleted by years of massive sales.
Palladium is used in emissions-capping catalytic converters in automobiles and in jewellery.
http://www.reuters.com/article/2014/09/29/palladium-russia-gokhran-idUSL...
It's cool. If the price of palladium goes high enough, I'll sell the auto companies mine...
Pd gets scarce enough, they can substitute platinum for it (whee...!).
There are Pd mines in the S. Africa, Canada and even one in Montana as well.
Oh, look! Elon Musk just lassoed an asteroid!
Give them hell Do Chen.
check out the players here
http://www.infomine.com/investment/palladium/
good resource site for free info, no recos
I was born in the computer of a quant named Joe
We’d make traders dance for the money they’d blow
The SEC did what little they could:
Preach stress-testing, drink a couple bottles of Dr. Good
Algos, quants and thieves
We heard it from the people of the town
They called us algos, quants and thieves
But every night all the men still come around
And lay their money down
Obliviously sung to Cher's "Gypsys, Tramps, and Thieves"..... well done.
Or Fleetwood Mac's Gypsy. "Danger Will Robinson! Danger Will Robinson!"
All the "Halts" are for a reason: to let the HFT out before the end of the trading day, as they have no capital to carry trades over to the next day. The margin calls would cause the entire system to crash.
The casinos usually have red lights a flashing and sirens blaring at this big winner.....they make sure everybody knows someone just one a big pot...
All we need is one hacker who could get through the firewalls and disable the circuit breakers, I'd pay to watch the outcome....
Is it the US dollars turn yet?