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US Opens With Panic-Buying Algo Stop Run
Deja vu all over again... because a resoundingly defiant tone from Tsipras is just what the algos needed to jerk futures up to yesterday's highs and run the stops...
Machines in charge over at the S&P...
But not so much elsewhere...
Charts: bloomberg
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this wont fall until obama steps out of the office
It will fall just before he leaves, so he can take credit. It puts better (fresh start) lipstick on the next (sock puppet) pig.
Look back in history: End of second term: sitting president becomes villain, next president looks savior. Problem, reaction, solution.
I hate to admit it, but I think you're right, Bobbo. Fits in perfectly with Doc's thesis that the market is just a policy tool.
And it's a damned shame that it'll be that way.......
Bobbo, reminds me of the old joke about the outgoing Prime Minister meeting his successor and giving him two letters. His advice to the new PM is the first time he is in trouble open the first letter. The second time he is in trouble, open the second. Not long after taking office the new PM ran into discontent by the people, so he opened the first letter which simply said, "Blame everything on me." This proved to work and soon the political crisis had passed. A while later the new PM ran Into steep political trouble again. Remembering the success of the first letter, he reached into his desk for the second. The letter again was simply put. The advice? "Write two letters."
^^^this, yes, nothing changes until leadership is actually held accountable. In the meantime, the devolution and fraud continues...
The ongoing problem, however, is that none of them address the real problems.
Forgive my language but these algo stop runs are just fucking pathetic.
DavidC
btfd until they raise rates....wait.
If they raise the rates more than two points they bust the system open like a pinata because the leveraged decay in the system in combination with the inflationary pressure will quickly shift the situation from merely awful to collasal financial shitstorm nearly instantly. Most of these pussies 'running things' can barely keep their shit together now, their own financial instrumentation willl break them over the rack and get them singing a different song soon enough.
Yes, moral hazard is a real motherfucker like that.
As all is making sense the markets are now red and will be there untill Yellen announces we will bail Greece out
It's all the brown peoples fault for the market manipulation.
i think its the chineese housewifes
Come come now, we must put our faith in the honest, steady-handed management of the SEC, FINRA, FED etc...they know best !
We peasants need to remember our place.
Dow pops, Gold drops and the band plays on. Love that vertical shot at the open. Normal market action...he he.
Paint those tapes for Mr Yellen.
Insert Doctor Evile Meme here : "price discovery"
corrupt individuals manipulated the indices higher, like they do every day. the fact that they used algos is a detail.
not one good law-abiding person on high places to put an end to this corruption. shameful.
I wish I was the FED, so I could do that, too. :(
Ctrl+P! Ctrl+P! Ctrl+P!
NFLX buy it
If it was done by a 16 year old from a mum's basement then they would be in big trouble.
We've seen this movie before in politics. Both sides need a deal, but anything but a last minute deal implies weakness. With a deal needed in 72 hours it's smart to front-run the 3% + pop in the SPX when the deal is announced.
Wow! I guess that if they announced a one kilometer diameter iron asteroid was headed toward the earth they could really run these numbers up. Ah, the miracles of artifiicial intelligence! (Meaning the stupid people that write that algo software).
Sell anything/everything tangible and buy the computer digits!
The entire financial market landscape with all its playing fields is nothing but a bankster ploy to suck money from everybody and everything. Stocks: Bullshit, Futures: Bullshit, Options: Double Bullshit, ETF: Extreme Bullshit, CDS: More Bullshit than one can imagine.
Of course, the banksters mask the bullshit with expensive pin stripe suites, nonsesnse trader-speak, CNBC, physicists pulling cock-a-manie algo's out of their arses, and bought-out politicians.
And nobody ever asks why Amshel Rothschild is never on the Forbes 1000 list of most wealthy individuals?
Silverer---of course they'd run up the SPX......the reconstruction would be seen as a huge boost to GDP. Same with war. In a world of CTRL P, you just can't lose....until the derivative bomb eventually goes off.
So it became obvious Grexit on means stocks and USD pop and Gold drops. Grexit off USD drops and Gold crawls up. Anyone explain the reasoning behind this madness ????
There is no price discovery, period. Go ahead, short all you want, the machine will happily take your fiat.
Should there actually be a collapse, good luck collecting. This is a global loss of faith, period. Global Weimar.
So Lose-Lose-Lose. That's hard to do. No wonder they are the smartest people in the room.
Yes. Welcome to the new Feudal age...
Well that was a quickie...already losing steam.
Makes sense, the world is collapsing so buy more Apple stock, it's the safe haven trade.