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What Is Really Going On: Market Liquidity Worse Than During The Flash Crash; 4500 Crash Events; Constant Halts And Unhalts
Curious why few if any traders can actually execute any trades, whether buys or sells? The reason is that despite the relative calmness of the index prints, what is going on beneath the surface is an unprecedented wave of constant halt and unhalts as all stop levels were taken out, many in circuit breaker territory, making it virtually impossible for any matching enginge to, well, match buyers and sellers.
Here is a sample:
The resulting halts made it impossible for regular traders to step in, requiring central banks to buy via the CME's Central Bank Incentive Program, to restore some market stability.
And just to add to the pain, there is absolutely no liquidity in either stocks...
eMini Liquidity since 2009 - today is the black line $ES_F pic.twitter.com/2vsXJWxdNI
— Eric Scott Hunsader (@nanexllc) August 24, 2015
... Or bonds:
Treasury Liquidity (10-year) is as low as it was during Treasury Flash Crash of Oct 15: pic.twitter.com/oZx2nH7vmK
— Eric Scott Hunsader (@nanexllc) August 24, 2015
As the market breaks:
Over 4,500 mini crash events so far today. Compare to last few years: pic.twitter.com/1sKQL6r4k8
— Eric Scott Hunsader (@nanexllc) August 24, 2015
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Picking up pennies on the up and down swings. Today's real winners.
Fidelity won’t spin-up. LOL
today is just a taste of what's to come in the next 60 days. if it bounces take the opportunity and head to safer pastures. it's going to be wild and ugly.
Nothing like a hundred handle rally in the S&P's.
And here we go.
https://m.youtube.com/watch?v=mdng-RwTHyQ
The lows on stocks today look like Ms. Janet is trying to draw a bottom, but although many spiked down and have already recovered half, the ones I'm looking at never really reached real support levels. So, who the fuck knows what happens next. If the charts acted normally, we'd probably hold around a middle value for the next few days, drop down again to test and exceed today's *closing* prices, and then (presumably) start a real recovery. I think the Dow is now just about where Janet wants it to be, to start her interest rate recovery, same as last October!
The only trick is to stabilize it here, and maybe we can still get our 0.1% increase in September!
We all love the unicorns! No reason why we shouldn't!
It is what they do... Fear not all will be revealed in short time!!!
How many times can the Plunge Protection Teams pull this stunt off? Sooner or later reality is going to bite hard, as it has in China.
It seems central command will use the same methodology as with crude oil, controlloed wipe out during 6 months.
1-3% drop per day and in 6 months dow is at 600-800. As I predicted for this to happen within 2015
they're already headed toward green only down 300 now
Red is the new green for The Bear
So gold's down a couple bucks. No reason to own that old relic in times like these! Or is it the BTFDers selling to make margin calls?
"Or is it the BTFDers selling to make margin calls?"
Be a little early right now,,, ?
Govt-FED-TBTFs will probably come out and announce how they saw important, mostly pension fund owned stocks tanking and decided to take action by buying them and now they will be converted to treasuries. Because of this the Govt has decided, for OUR safety, to convert 401k and pensions to treasuries. They have saved us all again. Sheeesh!
ZH blamed for causing PANIC.
Damian McBride an ex George Brown advisor is giving panic advice to his readers on Twitter that the Chinese crisis hails the beginnings of a huge banking crisis.
And this rant provides a link to ZH as proof of that analysis. So Damian apparently reads ZH...
http://uk.businessinsider.com/gordon-brown-adviser-damian-mcbride-full-b...
From ZH to McBride to BusinessInsider the powder trail. When MSM tries to find a bogeyman for panic fever in the market !
Not exactly PPT!
Exactly like 9/11, liquidity vanishing= BUY ON 500% MARGIN and wait
That's funny. I can't log into my retirement account. I wonder what's going on.
Bought out and now will be managed by .gov
You are now the proud owner of an ORA. ,,, lucky you!
Sum ting wong.
So we gave one government entity selling to another at higher prices to get the price up? Retail trades cannot find matches?
I cant wait until Europe gets to absorb all the losses this afternoon.
Free Market Capitalism, we hardly knew yee...
I'm so glad we turned the markets over to the machines...
They have been doing a bang up job with it so far.
I revel in anticipation of what the NEXT 8 years are going to look like
looks like PPT hitting resistance. Market's starting to nosedive again
Can we just have a continuous loop of Paul Volcker snapping on that CNBC journalist for questioning his claim that there is no problem with market liquidity???
I can't wait for the next sucker rally. I'm going to spend all my $ to buy stocks from the rich so i can be the one holding the bag!
What is really going on, I suspect is a last ditch attempt to keep the fed from raising interest rates. QE, for a select group of people, is the biggest cash cow in history. Some of these are in the USA. Others, I suspect, are in China. Creating a bump in the market is the attempt to delay the rise of interest rates for as long as possible, and damn the consequences.
Despite the carnage in the equity markets, GLD and SLV down. Who do you suppose is creating this illusion? Why? Do the central banks want you to store your wealth in dollars or gold?
Please do not worry.
These stories are such bullshit The system through Transact and IB is humming along with no cliche. I can buy and sell with ease.
with 4500 crash events, can't we get 4500 different ZH articles to read?
time to refill the popcorn bucket, this is getting interesting........
Brilliant. This is how the FED forbids selling? They don't put you in jail like China, they use technology to keep you trapped? We were warned....
My name is Market, Rigged Market