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And The Market Breaks (For The 2nd Time Today)

Tyler Durden's picture




 

The NYSE 'broke' from 930 to 950ET (levitating stocks after the plunge) and now it appears the exchange is having issues again as BATS declares self-help against NYSE...

  • *BATS: ROUTING TO NYSE HAS BEEN SUSPENDED AS OF 10:38:43 ET

The market has been open 73 minutes and been broken for half that time!

 

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Mon, 11/17/2014 - 11:46 | 5457231 cowdiddly
cowdiddly's picture

a sell order tried to sneak through and,  Blamo.

Mon, 11/17/2014 - 11:47 | 5457242 NoDebt
NoDebt's picture

You mean a REAL sell order, not just a stop-hunt algo entering and cancelling trades every 2 microseconds?

I could see how that would be a problem.

Mon, 11/17/2014 - 12:14 | 5457351 kliguy38
kliguy38's picture

We don't need no stinkin' volume!

Mon, 11/17/2014 - 13:48 | 5457723 KnuckleDragger-X
KnuckleDragger-X's picture

Damn pesky reality keeps rearing its ugly head....

Mon, 11/17/2014 - 11:49 | 5457250 insanelysane
insanelysane's picture

It takes time to reorder the trading sequence.  Things need to have their timestamps adjusted so that JPM and Goldman win.  Then we can hear how smart their traders are.  Gruber smarts.

Mon, 11/17/2014 - 11:56 | 5457273 Sudden Debt
Sudden Debt's picture

Yeah, Gino and Mario Rrr gona bring that guy a visit so that don happen no more

Mon, 11/17/2014 - 13:07 | 5457582 DetectiveStern
DetectiveStern's picture

In the last 2 weeks I've seen Lloyds, RBS, Clydesdale and the BoE all say that their CHAPS system is down.

 

In the previous year I've not seen it once. It always happens early in the morning or around GBP cut off. IT fault or a lack of cash to make payments?

Mon, 11/17/2014 - 11:48 | 5457232 Dr. Engali
Dr. Engali's picture

The "markets" have been broken since 2008. They were broke long before that, but 2008 is when they stopped being subtle about it. 

Mon, 11/17/2014 - 11:53 | 5457258 NoDebt
NoDebt's picture

Comcast Cable just started a new marketing campaign:  "At least we're more reliable than the NYSE!"

Mon, 11/17/2014 - 11:47 | 5457233 Bell's 2 hearted
Bell's 2 hearted's picture

going over industrial production

 

ZH didn't note prior (sept) was revised down from +1.0% to +0.8%

 

actually, worse ... since utilities ("the weather" ... i think it was too warm ... this time) was revised up from +3.9% to +4.2% (and iirc, the +3.9% was like the highest in 10 yrs for sept) ... while manufacturing got beat down from +0.5% to +0.2% ... business equipment for september revised from +0.3 to -0.4% (and august biz equip revised from -0.2% to -0.3%)

Mon, 11/17/2014 - 11:46 | 5457237 Theta_Burn
Theta_Burn's picture

Fucking moon-bat would be the response if you said this would happen 5 yrs ago..

Mon, 11/17/2014 - 11:50 | 5457251 LawsofPhysics
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"markets"  -  LMFAO!!!    ....that one never gets old.

Mon, 11/17/2014 - 12:15 | 5457348 101 years and c...
101 years and counting's picture

imagine if the "markets" were to become markets again.  stock prices would drop 50% in 1 week.  there simply arent any buyers way up here.  this bubble will pop.  "this time is different" is never different.  

Mon, 11/17/2014 - 11:53 | 5457257 Kaiser Sousa
Kaiser Sousa's picture

markets....?
thats funny.

Mon, 11/17/2014 - 11:53 | 5457259 maxouttexas
maxouttexas's picture

Any thoughts on why the exchanges are failing?  Is HFT or cyber attacks?

Mon, 11/17/2014 - 11:53 | 5457265 NoDebt
NoDebt's picture

Those are not the only explanations.  

Mon, 11/17/2014 - 11:56 | 5457271 FuzzyDunlop21
FuzzyDunlop21's picture

Well at least we can rule out high, or even medium, volume as being the cause

Mon, 11/17/2014 - 11:56 | 5457274 Lady Jessica
Lady Jessica's picture

Central command and their "off" switch?

Mon, 11/17/2014 - 13:08 | 5457587 DetectiveStern
DetectiveStern's picture

The hamster in the wheel died. The replacement hamster realised his fate and went on strike.

Mon, 11/17/2014 - 11:59 | 5457292 fallout11
fallout11's picture

Computers playing against algos are not the market.

Mon, 11/17/2014 - 12:01 | 5457293 buzzsaw99
buzzsaw99's picture

there is no market there is only old yeller

Mon, 11/17/2014 - 12:14 | 5457349 BandGap
BandGap's picture

Would this happen if a large portion of entities tried to exit all at once? Just curious. I mean, what if we had a situation like Japan's and saw a potential 500 point drop. Would this be a mechanism to prevent, or at least stall, that event?

Shit happens for a reason.

Mon, 11/17/2014 - 12:19 | 5457364 DavidC
DavidC's picture

I think the term 'May Flash Crash' comes to mind...

DavidC

Mon, 11/17/2014 - 12:22 | 5457385 BandGap
BandGap's picture

What if the "flash crashes" were dry runs for what we are seeing now? I think I could count on my hand the times any stock exchange went down in the last 20 years prior to 3-4 years ago. In the past year alone it's been at least half a dozen times. And it isn't because of the volume.

Smells to high heaven.

Mon, 11/17/2014 - 17:48 | 5458770 brainlpb
brainlpb's picture

I'm sure this what they'll do when everyone buys their options puts. They'll lock up the market and run the clock down...

Mon, 11/17/2014 - 23:59 | 5457483 Kelley
Kelley's picture

Twenty-five years ago, I witnessed a literal shell game con artist tricking a man on the street. I tried to tell the mark what was going on.  The shimsham shake-and-baker told me to butt out.

Why does it feel like that man later took a job on Wall Street?

Mon, 11/17/2014 - 12:54 | 5457520 Colonel Klink
Colonel Klink's picture

Why gamble in a rigged casino when they can close the table down before you place a winning bet.

Mon, 11/17/2014 - 13:11 | 5457596 Pumpkin
Pumpkin's picture

"Self Help"  LMAO.  That is all you need to know about these 'markets'.

Mon, 11/17/2014 - 13:36 | 5457681 katchum
katchum's picture

I was wondering why stocks were going up...

Mon, 11/17/2014 - 14:04 | 5457782 prefan4200
prefan4200's picture

Market breaks and opens higher - LMFAO.  "Market".... what a misnomer.....

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