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And The Market Breaks For The First Time Today

Tyler Durden's picture




 

Anyone who predicted that the first market to break today (because breaking markets are now a daily thing) would be DirectEdge around 10:30 am, wins a Zero Hedge hat.

We will be lucky if the failure of DirectEdge will be the last one today judging by the complete shitshow the stock market has become.

Source: BATS

 

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Thu, 10/16/2014 - 10:37 | 5341220 Doubleguns
Doubleguns's picture

Wash, rinse, repeat.

Thu, 10/16/2014 - 10:39 | 5341236 slaughterer
slaughterer's picture

Exchange breaks are almost always bullish.  They are throwing it all at the bears today.  

Thu, 10/16/2014 - 10:41 | 5341256 kliguy38
kliguy38's picture

calling grandma yeller    grandma yeller....where are u

Thu, 10/16/2014 - 10:46 | 5341280 philipat
philipat's picture

But, but, but, the HFTs are here to provide liquidity and save us all??.....

Thu, 10/16/2014 - 10:50 | 5341313 Manthong
Manthong's picture

What took it so long?

Thu, 10/16/2014 - 10:51 | 5341317 Dostojevskij
Dostojevskij's picture

Green is cooooming!

Thu, 10/16/2014 - 10:54 | 5341333 NoDebt
NoDebt's picture

NoDebt declares self-help against The Fed.  Buys a little gold.  Sadly, it fell off the back of my boat on my water-borne commute into the office this morning.

Thu, 10/16/2014 - 11:11 | 5341409 ParkAveFlasher
ParkAveFlasher's picture

Well put. Slaugherer.  I tried to explain to an ex-trader that HFT is a built-in price control, which implies pre-calculation of fund movements and thus pre-arranged allocation of wealth, which implies a 100% controlled central planning mechanism.  He retorted that HFT doesn't control prices, it controls orders.  This is like saying that a sprinkler system doesn't control fire, it controls water.  Most people are so in the tank, up is indeed down.

Thu, 10/16/2014 - 10:54 | 5341337 Possible Impact
Possible Impact's picture

"Wash, rinse, repeat." - But BATS can cary Ebola, so wear Level IV Haz-Mat suit first.

Thu, 10/16/2014 - 10:37 | 5341226 SHEEPFUKKER
SHEEPFUKKER's picture

The market is broken literally and figuratively....at the same time. 

Thu, 10/16/2014 - 10:44 | 5341272 Crash Overide
Crash Overide's picture

How many times has the market broken in the last two years compared to the last 10 years...?

It's almost like something isn't right... *chuckles*

Thu, 10/16/2014 - 10:40 | 5341241 Dr. Engali
Dr. Engali's picture

I wonder who the chump was that paid $489.29 for NFLX. I'll bet they are on the Yahoo boards right now screaming that the market is wrong and it's a screaming buy right now.

Thu, 10/16/2014 - 10:47 | 5341295 Kaiser Sousa
Kaiser Sousa's picture

and so begins the stick save in the last hour of trading in London...this after Bullard is trotted out to get the HFT's and morons to "buy, buy, buy".....

what a idiotic farce...

Thu, 10/16/2014 - 11:06 | 5341394 JRobby
JRobby's picture

Mortimer, your brother is ill!

Fuck him!

Thu, 10/16/2014 - 11:39 | 5341635 flyingpigg
flyingpigg's picture

NFLX was already a buy at $489.29 so BTFD idiot!

Thu, 10/16/2014 - 10:39 | 5341243 slaughterer
slaughterer's picture

If they manage a green close, I want Hedgeless Horseman to give me a nice Corned Beef Reuben at 4:00.01pm EST.

Thu, 10/16/2014 - 10:53 | 5341338 Arius
Arius's picture

why wouldn't they? 

that is if they want a green close ...

remember these people write tomorrow's paper ... or do you believe in free market, sell side buy side and all those algorithm calculations as to where will close weekly monthly and the rest of BS ...

Thu, 10/16/2014 - 10:56 | 5341350 SillySalesmanQu...
SillySalesmanQuestion's picture

They just managed to wipe out all the early losses in less than 10 minutes.
Great job Kevin!

Thu, 10/16/2014 - 10:39 | 5341244 bbq on whitehou...
bbq on whitehouse lawn's picture

The market is only broken if you want to sell.

Thu, 10/16/2014 - 10:40 | 5341245 TruthInSunshine
TruthInSunshine's picture

NASDAQ.

Beta, baby!

Thu, 10/16/2014 - 10:42 | 5341260 F0ster
F0ster's picture

Cash cash cash and gold right now.

Thu, 10/16/2014 - 10:46 | 5341281 Crash Overide
Crash Overide's picture

"When the shit goes down you better be ready..."

Cypress Hill

Thu, 10/16/2014 - 10:45 | 5341275 hairball48
hairball48's picture

Still stackin' here in MT

Thu, 10/16/2014 - 10:44 | 5341276 slaughterer
slaughterer's picture

They need to break the Nasdaq for a few hours, and then bulls will be set to push ES up.  

Thu, 10/16/2014 - 10:46 | 5341290 hackjealousy
hackjealousy's picture

"This hat is made of tinfoil."

Thu, 10/16/2014 - 10:50 | 5341312 slaughterer
slaughterer's picture

But you have to admit, it is getting pretty desperate when you have to hope for market breaks to "save a market."  

Thu, 10/16/2014 - 10:50 | 5341316 Comte d'herblay
Comte d'herblay's picture

A 10% correction is nothing. Long overdue.  If this had happened on a methodical basis over the last year and we were at 1860 today, it would be a gigantic yawn.

Got ahead of itself for many reasons little of which have to do with retail. 

If they liked GPRO at 98, they have to buy it at 70-75.

They'll thank me later.

Thu, 10/16/2014 - 10:56 | 5341343 10PastMidnight
10PastMidnight's picture

this bowl need maorrrrrrrrrrrrrrrrrrrrr coke or is it koke, come on yellen give us our fix.

Thu, 10/16/2014 - 10:57 | 5341359 ebworthen
ebworthen's picture

I declare self-help against Wall Street.

Thu, 10/16/2014 - 10:57 | 5341360 the not so migh...
the not so mighty maximiza's picture

this is BATS shit crazy

Thu, 10/16/2014 - 11:04 | 5341388 SillySalesmanQu...
SillySalesmanQuestion's picture

Must keep 10 year above 2%, check.
Must keep Dow above 16,000, check.
Must keep S&P above 1840, check.
Must keep WTI crude above 80, check.
Must keep hope of MOAR QE alive for all of above to work, check.

Thu, 10/16/2014 - 11:47 | 5341705 cart00ner
cart00ner's picture

Green is red - Red is green... Bad is good - Good is bad So smoke green and all will be good until it is bad ( or red ) 

Thu, 10/16/2014 - 12:56 | 5342137 css1971
css1971's picture

TURN THOSE MACHINES OFFFFFF!!!!!!!!!!!!!!!1

Thu, 10/16/2014 - 12:57 | 5342148 css1971
css1971's picture

Why don't they just have the exchanges ignore sell orders?

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