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Traders "Furious" Market Didn't Close Higher
Fact or Fiction...
Traders "Furious" Market Didn't Close Higher
In what most traders dubbed an "extremely disappointing" performance, stocks ended Monday's session with modest gains of 1.35%. The day began with a perfect trifecta of disappointing economic statistics, gains in overseas markets, and expectations that Federal Reserve will begin to remove accommodative policy language at its midweek press release.
"Honestly, what more could the market ask for'?" queried one frustrated floor trader. "When the market can't gain at least 2% on disappointing manufacturing and housing data, something is very wrong."
As would be expected, stocks jumped at the open in response to terrible manufacturing and housing data, but refused to maintain that pace over the course of the day. The S&P 500 only managed to pick up 28 points, while the Dow barely gained 228.
"All things considered, today's price action was simply pathetic," Robert Johnson, chief market strategist at Crossroads Securities, which oversees $3 billion, said by phone. "With crude prices getting hammered, the energy sector should have gained twice what it did."
Bart Simpson, former head of the CFTC, admitted he was "furious" that the averages didn't close significantly higher. "We've got this thing rigged well enough that gains of less than 3% shouldn't occur." If equities don't perform better tomorrow, we should "consider halting trading for a period of time until the problem is solved" he added.
Expectations for better gains tomorrow are focused on what is hoped will be disastrous news on Housing Starts and Permits.
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Flip a coin.
That tells me the traders are used to this easy free money
Watch them get caught when shit hits the fan
More fun to roll the dice.
Greed disappointment. Red flag
Is it possible that we- you and I and everyone here- are getting, maybe, just the slightest bit.... jaded?
Cynicism is my last mental line of defense before I just completely fucking lose it.
Regards,
Cooter
@CrazyCooter
Yup........
Kinda hard not to be isn't it? One of the things that bothers me the most is the possibility that some kind of external event (or false flag) occurs and the inevitable cratering of every market is blamed on that. The propaganda outlets will trot out the usual suspects, say things like 'no one could have seen this coming' and the criminals that have foisted this whole clusterfuck on us will walk away blameless, and since it will be blamed on Putin or Iran, will probably end up with a nice taxpayer funded bailout to boot.
Well of course, I mean..... wait, what??????
I gotta go take some more crazy pills.
The Kübler-Ross model, or the five stages of grief are denial, anger, bargaining, depression and acceptance. I think you have to be a sheeple to get to the last one, hence the frustration.
Miffed
my roomate's step-mother makes $79 hourly on the laptop . She has been fired for 10 months but last month her pay was $18694 just working on the laptop for a few hours. see here... www.globe-report.com
Bart Simpson?
Yeah and he was really pissed--
Yeah me too really, really pissed off........ Where is my green?
Welcome to the new norm.
I thought the "bad news is good news” meme had run its course?
Gang Bankers
Shirley you stole the above from the Onion, please say its so?
........don't call me Shirley.
USSA ran out of money today, but that never held stawks back before
http://www.bloomberg.com/news/articles/2015-03-16/what-a-debt-limit-showdown-in-congress-could-cost-the-u-s-economy
Wonder if they will actually debate this or opt for mass distraction and a pass it on a Friday on a holiday weekend. (we had to, couldn't shut down the government, we have to pay our bills, can't drop our security screen it is just too dangerous)
I'm "furious" their heads are still attached to their necks.
Huh?
Oh, yeah... That was the 27 year old veteran stock trader who has had his job now for 3 whole years after working his way up from Junior Assistant Analyst and Matrix Input Supervisor.
But WTF they're there, Johnnies on the spot at the front and center of the action and get all the Spam sandwiches.
Quite enjoyed the Bart Simpson "quote". Homer would be proud
Someone send this to The Onion stat....
I thought I was reading the Onion.
Hey, Bart Simpson, don't have a cow, man!
Am I the only one around here who's not in pain?
Bart Simpson.
Get yellen to smash her flapjacks on the buy button harder and faster.
I'm afraid to ask: Flapjacks? lol shit i think i know - and yeah thanks, now I too will be going to hell. he he heeeeeeeeeeeeeeeeeeeeee
Oh this is easy. This is definetly fiction, which makes it in this fucked up alternate universe an absolute fact.
The algo HFT computers were just as furious, in a binary way.
Eat my shorts
Unfuckingbelievable.
LMAO because it all might be true. These days, nothing is stranger than the truth!
If you sent this to The Onion, they'd say "no, you don't understand -- we publish parodies"
Surprised the asslicks at CNBC didn't run with the story and get Larry Kudlow to come on (after he blew a few lines in the men's room) to double down and talk about green shoots and the mothers milk of this farce they call "the market"
They all work for Peter Griffin...
let's kill them
No, this had got to be The Onion, right? Or......is this the real thing?????? Oh well, more PMs and ammo on the way. When this blows we are sure to be forced to learn how the Sumerians survived daily life 1000 years ago.
Maybe that is not such a bad thing. The Sumerians were very good at brewing beer.
This isn't fiction, it's science fiction, which means it'll be fact in a few years!
Markets performed as expected. That floor traders don't realize what is happening to the stock market is not surprising however. By the end of this week the stock markets will once again be collappsing in earnest as deflation continues to take its toll on every asset class.
Dow
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
S&P 500
http://www.globaldeflationnews.com/sp-500-indexelliott-wave-update-for-w...
According to Natixis:
http://www.ge.tt/5osnEOC2/v/0?c
March 13, 2015
What are the differences in economies where debt ratios are very high?
Debt ratios (public, private and total) are at present extremely high in a vast majority of OECD countries. How does this change the functioning of these countries' economies?
• Fiscal policy becomes more restrictive and can hardly become very counter-cyclical due to high public debt ratios;
• The private sector deleverages, and monetary policy can no longer use the credit channel;
• Central banks have an incentive to conduct expansionary monetary policies to facilitate deleveraging.
In countries where debt ratios are very high, we can therefore expect to see:
• Weaker growth (a restrictive fiscal policy, private-sector deleveraging);
• Deeper recessions (lack of counter-cyclical capacity of fiscal and monetary policies);
• And yet a sharp rise in asset prices (equities, real estate), due to expansionary monetary policies and long-term interest rates that are lower than growth rates.
Paradoxically, excessive debt ratios can be positive for equities and real estate.
Bad economic data further reinforces the no rate increase policies, which in turn means money will continue moving into equities. Bad news is good for the markets for that very reason. Just my thought. Even though this whole thing is fucking ridiculous, I need it to make sense and that's all I've got but it's enough for me.. What a fucking joke, I am so tired of being tired of being tired!!!!
"Traders furious market didn't close higher"? Huh? Sounds like they're still stuck in the "Mr. Market isn't rigged" meme! Someone needs to clue them in that, in a rigged market, Technical Analysis don't work! DUH!
Translation: We were net short, but reversed our positions at today's peak.
Shut the fuck up!
When is this shit gonna crumble.
Tired and depressed.
Nope, we need to fire more employees so we can buy back MOAR shares! What's the Market cap to volume today? Are we at pre-Enron levels? I wonder how the ex-Authur Anderson folks are making out now.
Seriously.......boo fcking hoo.
Wait wait.....we haven't talked about AAPL in like over 2 minutes now! Focus people
Well news rigging is on the way to fix this:) Those bots will read anything and it's just about what the journobots are about to do. You're going to have to pay for some of this by kicking in 20 cents on this new start up to read news and the NYT, WSJ, Washington Post are all in on it. NYT investing in this start up that will charge your credit card 20 cents to read.
We actually have a two fer going on here as the credit card companies, if consumers decide to use it, will give the credit card companies a ton of new behavioral data to score and sell about you. As I have talked about before, companies like Argus buy up all our credit card transactions, score us and then sell the scoring and the data, if they feel like it and they make a profit.
It gets better as one journobot company bragged to me on Twitter that over a billion articles were written last year using their bot. So with any automated code out there, here come the journobots to play with the trading bots, a match made in heaven. Don't worry if that stock you just bought isn't doing so well, within a few minutes a pre-programmed jounobot will fix it for you and enter the news the bots need to read to increase stock purchasing or selling, what ever the case may be.
If there's a way to rig it, people will use code to do it...
http://ducknetweb.blogspot.com/2015/03/major-us-newspapers-sign-up-and-invest.html
Remember the documentary "The Wall Street Code"...watch it and learn what code hosing is all about and how one former HFT guy crashed the party.
You can find it and many other interesting "code hosing" videos from folks smarter than me at the Killer Algorithms page. I started that over 3 years ago and I think now the name is pretty appropriate out there.
http://www.ducknet.net/attack-of-the-killer-algorithms/
So watch these journobots once they really get going in numbers start the jumping bean bots in the exchanges really jumping up and down..one thing nobody will know what the heck's going on for quite a while I think, unless they can see how this works with some data mechanics logic. This is bad news for journalists too. What do you want to read, human created material or stuff written by bots and pay 20 for that privilege. I had a comment a while back from Emanuel Derman on Twitter, he noticed as well that it's not the producers of the news that are getting paid, it's the bots that distribute the hard efforts of humans who write. A bot can take an article written by a human, rewrite it with a new focus and avoid all plagiarism as those algorithms come built in with the bot software, so program it and go to the beach, just like you do with trading software, although we might see some different results than expected once journobots start buddying up with the exchange bots. It's the new "rig".
"We've got this thing rigged well enough that gains of less than 3% shouldn't occur."
And there you have it.