Broken Market Chronicles: Initial Forensic Visual Evidence Of This Morning's Algo Freak Out

Tyler Durden's picture

Anyone who has had the displeasure of trading this market since the open will be well aware that the massive selling that started at 3:59:57 PM yesterday just as we showed, appears to have continued into today, after an algo, supposedly one impacting NYSE stocks this time, and proving that the entire market is a broken joke, not just Nasdaq and BATS, and one which is linked to Knight Capital, has continued this morning, sending countless stocks into the proverbial "batshit" formation, with moves of 10% higher and lower for no apparent reason. That's ok: the SEC and various other regulators are all over it, and will guarantee that the markets "are fixed." In other news, today we will report the latest massive outflow from domestic media funds. In the meantime, here are the first two picture of stocks getting pounded in super slo-mo courtesy of Nanex. Behold "perfectly normal" bids, offers and prints.

This is UNG: probably the most comprehensive way for retail investors to bet on nat gas. Not anymore: the ETF freaked out just as bad as hundreds of individual stocks.

Same for VPU: aka Vanguard Utilities. One can explain busted stock level action. But entire ETFs?

Summary: Perfectly Broken Market. And just at the right time we get this:

  • LOUIS BACON TO GIVE BACK $2 BILLION FROM MAIN FUND TO INVESTORS

Only a market wide boycott of the busted garbage that passes for capital markets could possibly get some response from the idiots in "charge."

More pretty pictures of idiotic algo trades as we get them