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Dear CFTC, The Market Is Still Broken
Dear regulators, and commodity futures exchanges.
While we are delighted that you take advantage of the daily posts on Zero Hedge detailing flagrant spoofing across various asset classes (which you used to promptly ban two low-level gold manipulators yesterday), the reality is that with every passing day the market becomes more disjointed, more fragmented, more broken.
Here are today's numerous examples which stretch far beyond mere spoofing and which we leave in your capable hands to ignore until such time as the entire market ultimately collapses under its own weight.
First, here is the NYSE breaking:
NYSE has a disproportionately high number of market structure failures. This is $EOG (blue is NYSE) pic.twitter.com/9nt9yFyQ2J
— Eric Scott Hunsader (@nanexllc) May 1, 2015
Then just before the close, as the ETF closing auctions tried to balance off the buyers with the sellers on the "market on close", first we got a flash crash in LLY:
$LLY just flash crashed - all exchanges participated pic.twitter.com/IYFq0vFwty
— Eric Scott Hunsader (@nanexllc) May 1, 2015
... followed by a flash smash then crash in SAP:
Double market structure fail in $SAP 1st up, then down! (gray dots): pic.twitter.com/ZuIFNKG5yn
— Eric Scott Hunsader (@nanexllc) May 1, 2015
... and then, just to punctuate how broken it all really is, the entire Russell 2000 ETF, the IYR, flash crashed.
$IYR had a mini flash crash in the last few seconds: pic.twitter.com/SKsNq6Suc0
— Eric Scott Hunsader (@nanexllc) May 1, 2015
... concluding with a flash smash in none other than the world's most valuable company, AAPL.
Chart of $AAPL showing those rogue trades (connected by lines) pic.twitter.com/QHRbGSzHii
— Eric Scott Hunsader (@nanexllc) May 1, 2015
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"Can you hear me now?" Tyler speaking to a deaf, dumb and blind CFTC regulator.
Regulator simply needs a few minutes of tenderizing.
At least when the markets really crash, they (CFTC and SEC) will not again be able to say "This was impossible to predict"?
Get a Tyler on it.... ZH should have a daily "SEC-sack" tip-sheet...
Can those charts be converted into porn to get their attention or was that some other regulatory group I am thinking of?
but CD, running stops is the banksters best skill.
Probably their only one.
Can someone please direct me to a site that explains how to read these charts?
I feel as incompetent as an SEC employee when I look at these.
Thanks.
I found it. http://www.nanex.net/aqck/QTSChartExplain/QTSequencer.html
Nanex is another great source.
O hwell ok so you see the red line drop really fast? That was when a duchebag JPM trader put in a fake order, an order he/she wasn't planning on making (like a head fake only WITHOUT A BASKETBALL IN HAND) and that was your "spoof" then when the market bit the fake (like the unregulated piece of shit it is) then the trader came in and said "Just kidding I was short!" The trader goes long and the bid flips. Presto chango.
"I feel as incompetent as an SEC employee when I look at these."
If you enjoy porn, believe me, you're JUST as competant as a SEC employee
Oh kaiserhoff they're good at selling their souls too!
:)
They probably think they are just renting.
Quell surprise;)
The question now is "Who isn't reading ZH?"
:)
that's it, Tyler, kill 'em with kindness.
The deaf, dumb and blind one is the precious metals investor. You folks must love losing - year after year.
Casino's like the stock market work on the Pavlovian responses emanating from lower brain functions.
You'll get your pats on the head and some biscuits, but sooner or later they'll euthanize you.
The fact that you used the word "investor" proves conclusively you have no idea what you are talking about.
Careful you'll give em an excuse for more overtime.
"What, me worry"? Naw....they must know what they are doing.
People love creating a new way to cheat. NON-GAAP is a pretty good example. Or going into debt to purchase shares just to boost EPS. Not really illegal just short sighted.
Knowing you are dealing with criminals is helpful. There is no real collateral..."and, it's gone".
It is COMPLETELY ILLEGAL for a publically to blatantly manipulate its stock price what are you even fucking saying?!
Balance sheets have to fucking balance. Just because every corporation is using Arthur Anderson accounting gimmicks doesn't mean it is legit.
JUNKED!
Minor correction: IYR is the Real Estate ETF and not the Russell 2000. Still, flash crashes in any symbols are a concern.
Tyler, I am grateful for the attention you are calling to the pathetic and corrupt CFTC, in much the same way you have consistently drawn attention to the HFT capture of what used to be our markets.
This is real journalism.
As an aside, Andy Hoffman's rant on the Miles Franklin blog today was well worth the read:
http://blog.milesfranklin.com/truth-and-passion-at-a-premium
While he does not present any new information, it is a wonderful summation of why 'charts' have become nothing more than MSM propaganda arms for the Central Banks.
This is a truth that your journalism continues to expose with articles like this and the earlier 'spoofing' article posted today, and your recent chart captures showing the central planners' rigging in action. Well done.
These 5 day weekends are murder. Gotta take comp days to recover.
--CFTC
You knuckleheads have a good day in the gold market today?
If you consider a tube of 1/10 oz. Eagles at a discount to be a 'good day in the market', then yes - it was a Great day in fact...!!
Cftc"you pays your money, you takes your choice..."
But gartman says ugly is the new attractive....
Dear CFTC,
You aren't fooling anyone. We all know you are an obedient, subservient client of the globalist bankster cartel, and have nothing but contempt for market participants, free markets, and America.
Dumbasses. This market is NOT broken. Freaky Friday FuckFest was right on schedule!!!!!
LOL.
Those charts are screaming Gun Control.
LOL! Don't know if it's b/c I'm drunk or it's you but this makes perfect insane sense to me. Best chart analysis of the day.
Go ZH -- expose another daily case of FRAUD and financial crimes for the CFTC to ogle at!
You could do this all day, and all day tomorrow, and the day after that.... please do!
"I am Jack's complete lack of surprise."
Thank you ZH for reminding me keep my glasses close by
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I am disappointed that no one, including Tyler D., has mentioned the market for silver futures contracts, which is ridiculously manipulated, with the full connivance of the CFTC, including CFTC commissioner Bart Chilton. Very, very disapointed. The Comex market for silver futures is JP Morgan's playground and means of defrauding everyone other participant in that market. Completely criminal. You ought to know these facts even if you do not read, say, Jeff Nielson, Turd Ferguson, or Harvey Organ.
-- Paul D. Bain
PaulBain@PObox.com
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I am with you in this, but how does JPM defraud silver participants?
I am asking this because I don't trade silver but I am curious in order to watch out.
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Blopper wrote:
Blopper, please read Turd Ferguson, Jeff Nielson, and the other bloggers who know a thing or two about the Comex silver market. I no longer remember the details of the manipulation because I have been out of the non-physical, silver market for years. These days, I hold physical silver ONLY. Paper silver (e.g., silver futures contracts) is mere paper and worth no more than the paper that it is printed on.
Also, Blopper, read this:
-- Paul D. Bain
PaulBain@PObox.com
Last edited @ noon on 2 May 2015
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By right, solving these flash smash and flash crash problems should be very easy, as long as the regulators and the exchanges have the INTENTION to solve them. Of course without honest intention, it would all just be excuses and more excuses on why it cannot be done.
Waiting for a sustainable 'flash' crash