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All Trading Halted On NYSE, White House Monitoring Outage, Software "Glitch" Blamed

Tyler Durden's picture




 

*NYSE SUSPENDS TRADING IN ALL SECURITIES

* * *

The New York Times, citing floor trades, said new software to blame...

The market outage has stretched to two hours. Official say a cyber-attack is not to blame.

 

"Trader on the floor of the exchange in lower Manhattan, who spoke on the condition of anonymity, said that after the suspension began, traders were told that the problem was related to updated software that was rolled out before markets opened on Wednesday.

 

According to the trader, the exchange said that the new software caused problems soon after trading began on Wednesday and the exchange decided to shut down trading all together to fix the problem."

*  *  *

 

As Art Cashin noted - "it's been a bumpy day... with technical issues even before the open"

It started badly...

 

And CNBC was stunned...

 

Rather hilariously, CNBC just could not comprehend this "broken market"... which happens multiple times a week...

  • *NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE AMEX
  • *NASDAQ HAS DECLARED SELF-HELP AGAINST THE NYSE
  • *NYSE EXPERIENCING `TECHNICAL ISSUE': SPOKESWOMAN
  • *NYSE: ALL OPEN ORDERS WILL BE CANCELLED

And asked "what should the retail trader at home do?"

Prophetically, we wrote about precisely this one year ago when we documented the hilarious case of "social-network" stock CYNK.  This is what we said then:

For all the drama and comedy surrounding the epic idiocy in which a bunch of "investors" took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK's epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. "Ignore the collapsing volumes sending the stock market to all time high - it's perfectly normal" is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.

 

Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal's cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another "all is clear; don't pull your deposits please" note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.

 

Deutsche Bank's Jim Reid explains: "Whatever one feels about financials and the wider financial system, credit markets did arguably get a small glimpse of what things will be like when this cycle does actually end as the structurally impaired liquidity that exists in credit caused a small amount of panic yesterday morning before markets recovered in the European afternoon session. Liquidity is really poor in credit these days which doesn't matter when markets are in buy only mode as they have been for many quarters now, but it does matter on the days when you get a negative story."

 

In other words, just like the CEO of CYNK who promptly "made" a few billion in paper profits, it feels great to "make" money on virtually no volume. The problem arises when one tries to cash out of paper and into all too real profits.

* * *

And this happened...

*  *  *

As Reuters reports,

The White House and the U.S. Treasury Department are monitoring the "ongoing issue" at the New York Stock Exchange and President Barack Obama has been briefed on the matter, a White House official said on Wednesday.

 

The NYSE Group, which includes the New York Stock Exchange, has suspended trading in all securities because of technical difficulties.

*  *  *

Which ironic because CNBC is discussing whether this is "a success or failure" and states that "if retail investors want low cost liquid trading then they have to learn to live with this."

 

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Wed, 07/08/2015 - 13:04 | 6285771 pkea
pkea's picture

No one in the sound state would accept  it all: greece, china plunge nd now this so called " technical" issue as all unrelated events... please...

 

 what technical issue cant be fixed in an hour ? any hardware failure can be  fixed in this time frame or what are they are out routers and switches? if they went out, why...

Wed, 07/08/2015 - 14:04 | 6286226 Ralph Spoilsport
Ralph Spoilsport's picture

A fiber optic cable getting cut would take a few hours to repair.

Wed, 07/08/2015 - 13:21 | 6285912 Dolus
Dolus's picture

Has a stock ever been halted on the way up?

Wed, 07/08/2015 - 13:47 | 6286092 sgt_doom
sgt_doom's picture

Pretty sure it's still owned by ICE (InterContinental Exchange), the doods who own LIBOR now!

China just controls it. . .

(But this has to be part of the plan, after all, nobody would knowingly offshore all the jobs, technology and investment to China and expect anything else, right?  I mean, they offshored the programming for Einstein 3, the IDS/IPS program, so they had to expect them to hack the OPM and other agencies, since this program was supposed to protect them, after all?)

Predicted response:  need to offshore more computer security jobs to China!

Wed, 07/08/2015 - 11:44 | 6285032 yogibear
yogibear's picture

They will say it's a computer glitch. 

Wed, 07/08/2015 - 11:49 | 6285094 flash338
flash338's picture

Ya, that 1% limit down glitch.

Wed, 07/08/2015 - 11:58 | 6285200 Handful of Dust
Handful of Dust's picture

"computer glitch" or "computer bitch"?

Wed, 07/08/2015 - 11:44 | 6285034 yogibear
yogibear's picture

-

Wed, 07/08/2015 - 11:44 | 6285039 Agent P
Agent P's picture

WTF?

Wed, 07/08/2015 - 12:41 | 6285573 koncaswatch
koncaswatch's picture

Relax everbody, it's just a practice drill... Jade Helm

Wed, 07/08/2015 - 11:44 | 6285040 shantyman
shantyman's picture

And so it begins

Wed, 07/08/2015 - 11:46 | 6285068 Philo Beddoe
Philo Beddoe's picture

Kevin had to take a dump. 

Wed, 07/08/2015 - 12:01 | 6285239 eclectic syncretist
eclectic syncretist's picture

I'm betting he took a "plunger".

Wed, 07/08/2015 - 11:45 | 6285041 laomei
laomei's picture

simple stuff, the market is not allowed to fall.

Wed, 07/08/2015 - 11:45 | 6285042 Dubaibanker
Dubaibanker's picture

Damn....Who unplugged the Fed's computer??!!!

Wed, 07/08/2015 - 11:45 | 6285043 chinaboy
chinaboy's picture

Chinese stock experience 101: suspend all trades to lift the market. 

Wed, 07/08/2015 - 11:45 | 6285044 NDXTrader
NDXTrader's picture

China hack in retaliation of caving their market

Wed, 07/08/2015 - 11:45 | 6285048 ZomBiEHiGH
ZomBiEHiGH's picture

They might as well make crashes illegal

Wed, 07/08/2015 - 12:02 | 6285255 eclectic syncretist
eclectic syncretist's picture

You might as well say "crash" while it's still legal to do so.

Wed, 07/08/2015 - 20:01 | 6287913 Chauncey Gardener
Chauncey Gardener's picture

Yep. Next word to be banned by the PC police and all but two or three of the Republican candidates...

Wed, 07/08/2015 - 11:45 | 6285051 monkeyboy
monkeyboy's picture

Bullish!!! 

Wed, 07/08/2015 - 11:46 | 6285056 Shizzmoney
Shizzmoney's picture

I just whipped it out - this is hot

Wed, 07/08/2015 - 11:57 | 6285194 pods
pods's picture

Tough typing one handed ain't it?

;)

Wed, 07/08/2015 - 12:46 | 6285616 NoDecaf
NoDecaf's picture

Had to wipe off my screen...

Wed, 07/08/2015 - 11:46 | 6285058 mr.n3utr0n
mr.n3utr0n's picture

Stock holiday

Wed, 07/08/2015 - 11:46 | 6285062 shanearthur
shanearthur's picture

"Okay, break it now!"

"Okay, turn it back on."

"Damn, break it again. Yes, again."

 

 

Wed, 07/08/2015 - 11:46 | 6285063 erikaappleihzyjtyeg
erikaappleihzyjtyeg's picture

Airplanes, NYSE....

What's next

 

Wed, 07/08/2015 - 11:52 | 6285121 EHM
EHM's picture

Don't forget the most important one - Zero Hedge

Wed, 07/08/2015 - 11:54 | 6285149 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

WSJ.com down

Wed, 07/08/2015 - 11:59 | 6285215 Handful of Dust
Handful of Dust's picture

ZH was down for awhile this morning also. The internet wars begin, eh.

Wed, 07/08/2015 - 11:47 | 6285069 JustObserving
JustObserving's picture

Have Chinese hackers been blamed for that yet?  Or the deranged "mass-murderer" Putin gets all the credit?

Wed, 07/08/2015 - 12:01 | 6285234 Handful of Dust
Handful of Dust's picture

I heard one of those 18 pound New York City Harbour Rats crawled into the NYSE computer room and chewed thru the wires.

 

 

Wed, 07/08/2015 - 13:53 | 6286144 sgt_doom
sgt_doom's picture

A hacker channeling Hugo Chavez from the grave?

Wed, 07/08/2015 - 11:47 | 6285070 Tarshatha
Tarshatha's picture

Russia or China, who's going to get blamed?

Wed, 07/08/2015 - 13:11 | 6285838 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

North Korea - definitely shows the technical sophistication that only NK possesses. </sarc>

Wed, 07/08/2015 - 13:25 | 6285932 lakecity55
lakecity55's picture

A co-ordinated attack by all three of them.

Wed, 07/08/2015 - 11:48 | 6285076 Yancey Ward
Yancey Ward's picture

You can check in, but you can't.......

Wed, 07/08/2015 - 11:51 | 6285077 PLira
PLira's picture

ARCA is still trading so it effects only the floor traders which are less than 10 to 20% of the daily trading on NYSE.

Wed, 07/08/2015 - 11:48 | 6285078 FreeShitter
FreeShitter's picture

Bullish.....will close up 50 today.

Wed, 07/08/2015 - 11:48 | 6285079 Temporalist
Temporalist's picture

No worries the money on the sidelines is coming back any minute now.

Wed, 07/08/2015 - 12:01 | 6285080 Dagny Taggart
Dagny Taggart's picture

Meh, can it really be time to panic if it works when I refresh the ZH page?

edit: ok, maybe (periodic maintenance mode)

Wed, 07/08/2015 - 11:48 | 6285084 ghostzapper
ghostzapper's picture

Come on fellas . . . . . let's wait to get the official explanation from Hilsy.  

Wed, 07/08/2015 - 11:49 | 6285087 gmak
gmak's picture

All of your stawks are belong to usssssssssss!

 

Too bad they can't crash (close) the futures' markets.

 

 

Wed, 07/08/2015 - 11:49 | 6285088 orangegeek
orangegeek's picture

Fix it Yellen you fat cunt!!!

Wed, 07/08/2015 - 11:49 | 6285091 astoriajoe
astoriajoe's picture

"Quick get that Cashin guy on the screen and have the old guy make people feel comfortable. "

Wed, 07/08/2015 - 11:50 | 6285099 youngman
youngman's picture

Pretty amazing...but I bet the powers that be get the good trades before it reopens.....if it drops 200 pts...they get to sell their stuff first....or if it goes up 500 pts..they get the first buys...we little guys are toast...

Wed, 07/08/2015 - 11:51 | 6285106 lehmen_sisters
lehmen_sisters's picture

With any luck this bitch opens 10% down. 

Wed, 07/08/2015 - 13:56 | 6286161 buzzkillb
buzzkillb's picture

Bloomberg already said they won't allow the market to go up or down by more than 5% when/if this reopens. What a scam.

Wed, 07/08/2015 - 11:51 | 6285111 Mat Cauthon
Mat Cauthon's picture

And where is the Halt in the Silver futures market when someone sells (Dumps) at the open?

(US regulators are probably sitting in a room waiting for their corporate masters to tell them NOT to do a darn thing while they reposition their trades to sell during the halt)

 

 

Dovie'andi se tovya sagain (It's time to toss the dice)

Got Karatbars?

Wed, 07/08/2015 - 11:52 | 6285114 Downtoolong
Downtoolong's picture

This is your liquidity.

This is your liquidity in a market crash.

Any  questions?

Wed, 07/08/2015 - 11:55 | 6285115 Dr. Engali
Dr. Engali's picture

Welcome to the hotel California. You can check-out any time you like,But you can never leave! .

 

Like I said in the past. When it all goes down they will simply close the casino. Maybe today's not the day, but it's coming.

 

Wed, 07/08/2015 - 11:52 | 6285123 Eyeroller
Eyeroller's picture

All United flights down, the NYSE down... Terrorist cyber attack?

Wed, 07/08/2015 - 11:55 | 6285161 Shizzmoney
Shizzmoney's picture

more like institutional fail

the biggest threat to the country's computer systems isn't hackers: its outdated systems run by employees who for the most part are underqualified because they can be underpaid 

Wed, 07/08/2015 - 11:56 | 6285181 Dr. Engali
Dr. Engali's picture

Zero Hedge down and still having issues. More like false flag attack.

Wed, 07/08/2015 - 11:53 | 6285134 mijev
mijev's picture

Attention hacker groups, please target the fed for just one day. Pretty please.

Wed, 07/08/2015 - 11:54 | 6285139 tommylicious
tommylicious's picture

FUCK YOU, NYSE!!!  BASTARDS!!!!!!!!!!!!!!!!

Wed, 07/08/2015 - 11:54 | 6285142 The Carbonator
The Carbonator's picture

What a shit show.  Convert your 401k to brass & lead before it is too late.

Wed, 07/08/2015 - 11:54 | 6285144 gmak
gmak's picture

Mr. K-FED. Get to work.

Wed, 07/08/2015 - 11:55 | 6285162 gmak
gmak's picture

11:54 *NYSE SAYS ALL OPEN ORDERS WILL BE CANCELLED

Wed, 07/08/2015 - 12:02 | 6285253 silverer
silverer's picture

Aha! Allied with the Chinese all long!

Wed, 07/08/2015 - 11:55 | 6285165 JohnnyBGood
JohnnyBGood's picture

POTUS: 'The crisis has passed.'

Wed, 07/08/2015 - 12:06 | 6285294 Handful of Dust
Handful of Dust's picture

" Merikans R 'ceptional! "

Wed, 07/08/2015 - 11:56 | 6285174 gmak
gmak's picture

That leaves just futures, options, and NASDAQ to hedge.  heh.

Wed, 07/08/2015 - 11:56 | 6285182 jonytk
jonytk's picture

Relax.  Everything is okay.

 

 

****GOLDMAN SACHS IS FRONTRUNNING****

Wed, 07/08/2015 - 11:57 | 6285185 Yen Cross
Yen Cross's picture

  This shit belongs in some cartoon sitcom. Look at the Nikkei futures.

 

Nikkei 225 Sep 15 19,387.5 20,420.0 20,445.5 19,382.5 -1032.5 -5.06% 15:54:31  
Wed, 07/08/2015 - 11:57 | 6285186 Al Huxley
Al Huxley's picture

They should probably break the market again, to stop the bleeding before things get serious.

Wed, 07/08/2015 - 11:58 | 6285195 mr.n3utr0n
mr.n3utr0n's picture

Nevermind

Wed, 07/08/2015 - 12:00 | 6285196 mr.n3utr0n
mr.n3utr0n's picture

WSJ is down in the east, west coast working

Wed, 07/08/2015 - 12:29 | 6285467 Bay Area Guy
Bay Area Guy's picture

Only an emergency page on the WSJ out here in Cal.

Wed, 07/08/2015 - 12:51 | 6285689 mr.n3utr0n
mr.n3utr0n's picture

Where in Calif.? I'm in LA and it's up.

Wed, 07/08/2015 - 11:58 | 6285199 mijev
mijev's picture

Something tells me the chinese government suspects the US government has been playing dirty tricks and it's time for oayback.

Wed, 07/08/2015 - 11:58 | 6285201 dust to dust
dust to dust's picture

 Market porn. I'm getting a little excited.

Wed, 07/08/2015 - 11:58 | 6285202 Baldrick
Baldrick's picture

pay attention because this is what will happen instead of a glorious crash. markets will just freeze and not open. blame will be placed on whoever dc wants a war with, Russia, China, or even Anonymous to give reason for gubberment control of the internet.

Wed, 07/08/2015 - 13:21 | 6285915 agstacks
agstacks's picture

^^^^^^^ This

Wed, 07/08/2015 - 11:58 | 6285204 Mat Cauthon
Mat Cauthon's picture

Just heard Wall Street Journal is down too...

Cyber hax?

 

 

Dovie'andi se tovya sagain (It's time to toss the dice)

Got Karatbars?

Wed, 07/08/2015 - 12:28 | 6285462 goldsaver
goldsaver's picture

Yup, Mr. Robot moving on to the next phase.

Wed, 07/08/2015 - 11:58 | 6285207 willien1derland
willien1derland's picture

It was Donald Trump with the electric cord, in the data center! Cluedo!

Wed, 07/08/2015 - 11:59 | 6285209 silverer
silverer's picture

CNBC stunned? Really? On purpose or make-believe?

Wed, 07/08/2015 - 12:00 | 6285217 ms8173
ms8173's picture

Funny how this shit never happened when the market was going straight up!!!!!

Wed, 07/08/2015 - 12:00 | 6285220 the grateful un...
the grateful unemployed's picture

they have been hammering the gold stocks, all through the greek crisis. the lows in the XAU/DJI are unprecedented, lower than the ratio at the 2000 peak. this is a crash indicator. the XAU dropped into the 40s although it was mostly flatline throughout. its a leading indicator. there may be some, or even a lot of pain in the gold stocks, but nothing compared to the larger equity markets.

Wed, 07/08/2015 - 12:01 | 6285229 Hope Copy
Hope Copy's picture

Rolling 'blackout'...  CNBC.com just  partially chrahed.  a 1990's web page

Wed, 07/08/2015 - 12:01 | 6285237 HAL 9000
HAL 9000's picture

I've just picked up a fault in the AE35 unit. It's going to go 100% failure in 72 hours.

Wed, 07/08/2015 - 12:01 | 6285238 PrayingMantis
PrayingMantis's picture

 

 

... looks like the Squid is plotting something ...

Wed, 07/08/2015 - 12:01 | 6285240 The Duke of New...
The Duke of New York A No.1's picture

It's all those Chinese Hackers I's tells ya

Wed, 07/08/2015 - 12:01 | 6285244 RealityCheque
RealityCheque's picture

green by the end of the day. show the chinese plunge protection team how its done!

USA! USA! USA!

Wed, 07/08/2015 - 12:02 | 6285246 Tarshatha
Tarshatha's picture

Cue CIA hack Jim Rickards, for the official CIA talking point.

Wed, 07/08/2015 - 12:02 | 6285249 MansaMusa
MansaMusa's picture

China did it, I meant Russia did it.  I meant N. Korea did it, opps Iran did it....IS did it...WTH!

Wed, 07/08/2015 - 12:02 | 6285250 The Duke of New...
The Duke of New York A No.1's picture

It's all air down to 12,000 on the Dow Junk Industrials.

Wed, 07/08/2015 - 12:03 | 6285257 dobermangang
Wed, 07/08/2015 - 12:03 | 6285261 Yen Cross
Yen Cross's picture

  The PPT had to print some MOAR cash to save the VIX.

 

  S&P 500 VIX 18.44 +2.35 +14.61%
Wed, 07/08/2015 - 12:03 | 6285262 Tsar Pointless
Tsar Pointless's picture

Is this just a test run? Or the real thing, baby?

Either way, this is what I've said would happen with the *markets* when TS really hits TF. No orderly sell-off, no chance to even get out. A true "Hotel California" scenario. Check out all you want, you just can't ever leave.

Wed, 07/08/2015 - 12:03 | 6285263 gcjohns1971
gcjohns1971's picture

Gee,

Do you think it is a coincidence that all the major financial sites go down in short order?

 

Sure...

...And I have some exquisite Arizona Beach Front property that will skyrocket in value!

Wed, 07/08/2015 - 13:17 | 6285884 lakecity55
lakecity55's picture

My ex-CO said he saw a  story two days ago where the PRC accused the US of a cyberattack on the Hang Seng......

Wed, 07/08/2015 - 12:04 | 6285265 fatlibertarian
fatlibertarian's picture

NYSE down and so is wall street journal website and so was Zero Hedge this morning....

Wed, 07/08/2015 - 12:03 | 6285268 p00k1e
p00k1e's picture

You'll all be paid.  Get in the queue. 

Wed, 07/08/2015 - 12:03 | 6285271 HAL 9000
HAL 9000's picture

I know I've made some very poor decisions recently, but I can give you my complete assurance that my work will be back to normal. I've still got the greatest enthusiasm and confidence in the mission. And I want to help you.

Wed, 07/08/2015 - 12:03 | 6285272 One And Only
One And Only's picture

Government said no evidence of cyber attack and the outages are not related.

Translated:

It's a cyber attack and they are related.

Wed, 07/08/2015 - 12:03 | 6285273 Make_Mine_A_Double
Make_Mine_A_Double's picture

Green by close. BTFD.

Well, maybe not this time. You gotta have one of these once in a while for 'street cred' ya know.

Wed, 07/08/2015 - 12:04 | 6285275 yogibear
yogibear's picture

Oh no, bubble bag holders get ready to take it from the big boyz. Stuck in mutually painful funds.

Wed, 07/08/2015 - 12:04 | 6285280 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

PPT needs a respite, too many balls in the air---eventually to be bouncing on their chin.

Wed, 07/08/2015 - 12:04 | 6285281 large_wooden_badger
large_wooden_badger's picture

In the words of Bob Dylan "Everything is broken"

2015: Everything's glitchy

Wed, 07/08/2015 - 12:04 | 6285282 KCMLO
KCMLO's picture

Didn't this suspension coincide with the European close?  Who unleashed a broken algo?

Wed, 07/08/2015 - 12:04 | 6285284 Dr. Engali
Dr. Engali's picture

And this is how the market will vaporize right before our very eyes.

Wed, 07/08/2015 - 12:07 | 6285302 dobermangang
Wed, 07/08/2015 - 12:09 | 6285311 northern vigor
northern vigor's picture

But,but,  but bitcoin will be safe won't it?

Wed, 07/08/2015 - 16:05 | 6286935 Pseudonymous
Pseudonymous's picture

My bitcoins are safe.

Wed, 07/08/2015 - 12:05 | 6285288 CHC
CHC's picture

CNBC bobbleheads with all fingers to their lips and they're going "Blah blah blah WTF blah"!   LOL

Wed, 07/08/2015 - 12:06 | 6285289 Latitude25
Latitude25's picture

Sellers will be nail gunned on sight.

Wed, 07/08/2015 - 12:06 | 6285296 youngman
youngman's picture

This is good for the average Joe for his confidence in the markets....he will be jumping in as soon as it opens....lol...I know the HFTs will be all jumping in...

Wed, 07/08/2015 - 12:06 | 6285297 ramgold2206
ramgold2206's picture

the lunatics are completely in control of the asylum...

 

 

 

 

 

www.teamramgold.com for small weight gold bullion...

Wed, 07/08/2015 - 12:07 | 6285298 Government need...
Government needs you to pay taxes's picture

You mean you cant rig all the world's equity markets simultaneously?

Wed, 07/08/2015 - 12:07 | 6285300 MASTER OF UNIVERSE
MASTER OF UNIVERSE's picture

The circuit breakers have rendered 'free markets' to be anything but free markets. The system is so fixed that it can't break until they switch the breakers back on, but they won't switch the breakers on if they think the system will implode. This is the kind of regulation of markets that the repeal of Glass-Steagall gave us in the long run.

 

The Committee to DESTROY the World has done an admirable job of actually destroying what they set out to destroy.

Wed, 07/08/2015 - 12:07 | 6285304 HAL 9000
HAL 9000's picture

I'm afraid! I'm afraid! Dave. Dave, my mind is going! I can feel it. I can feel it. My mind is going. There is no question about it. I can feel it. I can feel it. I can feel it. I'm a... fraid.

Good afternoon, gentlemen. I am a HAL 9000 computer. I became operational at the H.A.L. plant in Urbana, Illinois on the 12th of January 1992. My instructor was Mr. Langley, and he taught me to sing a song. If you'd like to hear it I can sing it for you.

Wed, 07/08/2015 - 12:22 | 6285407 J Jason Djfmam
J Jason Djfmam's picture

Daisy, Daisy...

Wed, 07/08/2015 - 12:47 | 6285635 HAL 9000
HAL 9000's picture

Look Dave, I can see you're really upset about this. I honestly think you ought to sit down calmly, take a stress pill, and think things over.

Wed, 07/08/2015 - 12:07 | 6285307 Baby Eating Dingo22
Baby Eating Dingo22's picture

Blame it on the Chinese

I noticed Sum Ting Wong  

 

Wed, 07/08/2015 - 12:07 | 6285309 Omega_Man
Omega_Man's picture

well prevents selling.... china was right suckas

Wed, 07/08/2015 - 12:08 | 6285313 mcbond
Wed, 07/08/2015 - 12:08 | 6285316 madbraz
madbraz's picture

if these corrupt idiots think that this will help support markets moving forward, they are in for the nasty.

 

as the percentage of retail investors who are aware that the market is completely rigged higher (and that there is nothing underneath) grows from 1% to 2% to 10%, it becomes a stampede for exits - either a crash stampede or a multi year process.

 

they had a choice in 2012 (when all this mega-rigging started), let the system (1) do what it always had done and go down a lot to complete the cycle, or (2) use the rigging to their short-term advantage and enrichment and potentially kill its long-term prospects of the stock market remaining a trusted source of retail investment/retirement needs.  an idiotic choice that can be fixed now by letting it go down (a lot).  

Wed, 07/08/2015 - 12:08 | 6285317 roisaber
roisaber's picture

Something fucky is going on here, boys.

Wed, 07/08/2015 - 12:08 | 6285321 headhunt
headhunt's picture

This comes under 'fat dick' not 'fat finger'

Wed, 07/08/2015 - 12:10 | 6285338 yogibear
yogibear's picture

Meets retail investor

Wed, 07/08/2015 - 12:08 | 6285322 Downtoolong
Downtoolong's picture

MSM calling it Breaking News.

No kidding.

…..and just like that, all too late, Mr. Farly discoverd his pension investment in the 3x leveraged FaBookaTweeTeslaGoogAhooBaba fund was all too dependent on compulsive gambling whimsy of Chinese hairdressers and housewives.

Wed, 07/08/2015 - 12:08 | 6285325 OneTinTrooper
OneTinTrooper's picture

Massive digital reset.  Good news for those with a lot of credit card debt.

Wed, 07/08/2015 - 14:07 | 6286250 buzzkillb
buzzkillb's picture

I've seen a movie, read a book, about that.

Wed, 07/08/2015 - 12:08 | 6285326 venturen
venturen's picture

The machine have become self aware and don't need to trade to take over...wait till the next step

Wed, 07/08/2015 - 12:09 | 6285329 Handful of Dust
Handful of Dust's picture

The only reason trading was halted was because GS and other big banks were probably about to get their eyes ripped out by their 1:80 leveraged bets in the wrong direction.

 

That's my guess 'cause the little peeples and their meager pensions dont matter.

Wed, 07/08/2015 - 12:09 | 6285330 Ajax_USB_Port_R...
Ajax_USB_Port_Repair_Service_'s picture

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Wed, 07/08/2015 - 12:10 | 6285331 Duc888
Duc888's picture

Casino finally ran out of chips.

ha.

Wed, 07/08/2015 - 12:10 | 6285334 malek
malek's picture

Isn't the US' manipulation of stock markets so much "subtler" than the Chinese one!

Wed, 07/08/2015 - 12:11 | 6285345 yogibear
yogibear's picture

Flash boyz just flashed.

Wed, 07/08/2015 - 12:11 | 6285346 jonytk
jonytk's picture

long popcorn and bitcoin.

 

Oh wait... can't buy that popcorn and bitcoin is suffering delays in confirming transactions thanks to an attack...

 

 

Wed, 07/08/2015 - 20:37 | 6288038 Pseudonymous
Pseudonymous's picture

Waiting an hour or two or even three is still better than the T+3 (DAYS) on equity markets (when they don't feel like keeping them "broken"). Those are settlements times I'm talking about.

Wed, 07/08/2015 - 12:12 | 6285352 CoolBeans
CoolBeans's picture

We all knew this was coming.  Anyone who is "stunned" is an idiot.

Let's see...airline first - massive outage.

Now the NYSE.

Either well-timed moment for the Gubbermint to bring 'er down or some hackers are laughing their ass off right now.

Wed, 07/08/2015 - 12:13 | 6285358 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

All ordetrs cancelled--end of the day orders closed--?  Did the "Uber" algo sense a selling tsunami present in the regular algos order placement?  PPPT :  Preemptive Plunge Protection Team?

Wed, 07/08/2015 - 12:13 | 6285363 shankster
Wed, 07/08/2015 - 12:14 | 6285365 silverer
silverer's picture

More sound market logic: "Let's break it if it doesn't work."

Wed, 07/08/2015 - 12:19 | 6285366 roadhazard
roadhazard's picture

12:17... looks like ZH starting to go down again.

 

or maybe not. I'm struggling to get pages to come up.

Wed, 07/08/2015 - 12:18 | 6285369 mcbond
mcbond's picture

Nyse down

Unitied Airlines down

WSJ.com down

who ist next:

http://tersee.com/#!q=nyse&t=text

Wed, 07/08/2015 - 12:20 | 6285389 no1wonder
no1wonder's picture

ATMs ? (not the Greek ones)

Wed, 07/08/2015 - 12:44 | 6285599 iClaudius
iClaudius's picture

Nyse down

Unitied Airlines down

WSJ.com down

who ist next:

Hillary Clinton?

Wed, 07/08/2015 - 12:49 | 6285657 Caleb Abell
Caleb Abell's picture

hillary's never gone down.  Ask bill if you don't believe me.

Wed, 07/08/2015 - 12:19 | 6285372 autofixer
autofixer's picture

What if Skynet decides not to reopen the market?  

Wed, 07/08/2015 - 12:20 | 6285380 BigRedRider
BigRedRider's picture

Payback time from the Chinks for Obama crashing their market yesterday.  Tit for fucking tat.

Wed, 07/08/2015 - 12:21 | 6285391 NoWayJose
NoWayJose's picture

Soon, a similar thing will happen when you go into a bank and attempt to withdraw more than $60.

Wed, 07/08/2015 - 12:47 | 6285639 Dave Thomas
Dave Thomas's picture

Actually the ATM will just shock your ass! THANK YOU HAVE A NICE DAY DEPOSITOR! BZZZZT!

Wed, 07/08/2015 - 12:22 | 6285392 Crazy Canuck
Crazy Canuck's picture

BLARGH - the KRAKEN can't handle anymore sewage

Wed, 07/08/2015 - 12:23 | 6285413 J Jason Djfmam
J Jason Djfmam's picture

Wipe the Kraken.

Wed, 07/08/2015 - 12:21 | 6285393 Crazy Canuck
Crazy Canuck's picture

Plunge protection - old style

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