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The Farce That Is The "Market" In One Chart
This is what happened to the world's most valuable company in the last minutes of trading, when a few million shares in the last 10 minutes, and a volume slam in the last few seconds, sent the stock from just shy of $128 where it had been trading most of the day, to just over $125. A nearly $10 billion move in market cap in seconds.... on nothing.
Zoomed in courtesy of Nanex:
And annotated:
Well, not nothing. Some market maker knew the would have a lot to pay if any of the 25,000 $127 calls, and 18,500 calls at $126 expired in the money. Oh, and those 57,000 $125 calls lost over $10 million thanks to the last second move.
And, alternatively, those who were short the calls, are deilghted as a result of this last minute stock manipulation.
Because this, in the new paranormal (and in the case of AAPL, almost literally) is the "market."
And, no, before you ask: the regulators won't lift a finger.
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queue everything is awesome
https://www.youtube.com/watch?v=StTqXEQ2l-Y
because i'm happy happy happy happy
https://www.youtube.com/watch?v=y6Sxv-sUYtM
Who needs a market when you have HFT's
Tickmill guys again with small help from Goldman Sachs?
Goldman wouldn't even bother for this measly $10 million. I mean it is Friday evening so they are already out spending our money in some nice restaurant.
$10,000,000 in 5 seconds works out to what...$7.2Billion per hour? That's not a bad wage I would say
Check silver.
There may be something at play in that market and all aapl's products need it - silver went up 4+% today at the peak.
we'll see in the weeks ahead.
Good observation!
today was a qudruple withcing hour. 125 is the "round number" price where most option contacts expire worthless and I bet a lot more than 10 million in options were in play. wall street spent 10mill killing the price and made a 100 mill not having to pay out on options. silver had nothing to do with it
look at stock prices, you will see a lot of o,5, 2,5, 7.5 kind of numbers. nic roound numners or very closee to it.
I hear you lost money.
Still, follow silver, palladium and rare earths.
Somethings cooking.
10 million or 10 billion ?
then again what's a few zeroes between friends
$10B difference in market cap, $10M lost on the $125 calls (best as I can tell from the article).
Highland wired-> Who needs HFTs when you have gold
Clap along if you know that happiness is for you!
Correction, the regulators won't lift a fat finger...
fancy fingers making that "market".
Amber: Last season's winners.
Fireball: No. Last season's losers.
[/running man]
I guess that's called a stinky finger!
What does Kermit's middle finger smell like?
Miss Piggy
Complete bullshit.
the house always wins
A little taste of things to come. UMMMMM.... Yummy !!
S.E.C. - "Looks like normal Friday market action to us."
D.O.J. - "The stock market is a market, not an insurance policy."
Insider shorts - "Hot damn! Party weekend! Reboot our algo's!"
Guess Yellin Trading LLC must've had to liquidate her options position.
First thought was: Holy Shit!
Second: Don't people get killed for shit like this? I mean don't they kill themselves with a nail gun from 10 feet for doing something like this?
I think that people only get killed when they refuse to do shit like this.
You're kidding, right?
Welcome to "normal".
Per ZH's relevant, funny southpark youtube video.. "AND ITS GONE"
Hey...that's two charts.
finally, some inflation
May the Farce be with you.
Jordan Belfort: I fucked her brains out... for eleven seconds.
Is that an ambulance siren?
This is only a test.
And I thought it was just Friday profit-taking...
AAPL is still $100 overvalued.
Haven't seen much about the iWatch lately. It was on the cover of fashion magazines and then the price came out and the world collectively went WTF.
...or the fact that you have to recharge it every 2 to 4 hours lol
i'm never on the right side of these moves, need to find a new synagogue i guess
Don't try to figure out which stock is going to move in which direction. Figure out bank positions and look for points of interest where they will need to manipulate to make their numbers. It has nothing to do with value so stop investing. Start betting on sure things (if you must gamble). The house always wins so always bet on the house.
scalping is bullish for the ecomony
Easy to job stock...
Wait till the same robots will control your....life.
Who leaves an option open up to the expiration? Morons?
If I had one chart for every chart that explains everything in just one chart, I'd have a lot of charts.
_
will any industry/gov't ever have oversight, checks and ballances, fair play again? . or is crony capitilism / fascism. here to stay? I think here to stay
This can only go one of two ways if it changes. Either a lot of people die and it gets better or it gets worse and a lot of people die.
Very simple reason: rebalancing of portfolios. Since AAPL is so widely owned and has appreciated this quarter, today is the day when many of these funds have to rebalance in order to keep the target weights they are mandated to abide by. In doing so, many had to sell AAPL to balance back to target. Usually that rebalancing is done exactly at close, so that is what we just saw... It is good to know when these dates happen, so many traders had this in their radar screens and tried to profit with derivatives -- I don't think this is anything out of the ordinary.
Clearly you know nothing about institutional trading. Any decent shop will work the sell during the day, i.e. vwap or twap even, to have as least minimum impact on price as possible.
I learned the hard way trading AMZN options yrs ago. My position got decimated on the reverse situation off the open. Never again.
And, no, before you ask: the regulators won't lift a finger.
And know before you ask: the regulators won't lift a finger.
We could debate this all day long.
Zeroes, investing is easy. Short gold and long equities.
When are you going to get it through your thick heads?
Fundamentals are gone, only gambling left...
Good luck.
The problem I see with this is the same applys to everything. There is nothing nothing at all that is not a farce
From everything is. The Pope the Hospital no matter what business or company political office you name it once on the inside it is not straight everything is a corrupt farce.
But this fact changes nothing, because it is all we will ever have.