You're now on the archive server. Commenting has been disabled.
Broken Market: Short Muni ETF Flash Smash +43%
Presented with little comment except absolute incredulity that this is still occurring day-in and day-out with no real discussion beyond our friends at ITG...
*SHORT MUNI ETF PAUSED BY CIRCUIT BREAKER ON RISE OF UP TO 43%
SMB just jumped 43% in seconds on a string of 100/200 lot trades cascading up and then disappearing as circuit breakers halted it.
and courtesy of our friends at NANEX:
From $17.84 to $25.54 in 5 seconds!
And where the quotes really went... "Dear Mary, thank you for the wonderful stub quote ban"...
»
- 9967 reads
- Printer-friendly version
- Send to friend
Isn't it called a 'no limit' order?
Nothing to see here, Ms. Whitney. Move along.
Too soon, dude. A little decency and sensitivity please.
He's talking about Meredith..
He meant he just got done spanking off to Meredith's wikipedia photo and hasn't recovered yet. Give the man some time you ruffian, he's feeling vulnerable!
Waddell & Reed must be dealt with once and for all.
Would you like a voluntary fat finger amputation to go with that voluntary haircut sir?
you forgot the best part :)...
http://www.youtube.com/watch?v=5NNOrp_83RU
haha, probably advising her triple PhD 18-year old wiz kid spouse how to really please her
Eh, no...
http://en.wikipedia.org/wiki/John_Layfield
Quit it with the conspiracy theories Tyler. They obviously increased 43% in value over those all important seconds.
robo-kill a comin' -- the 'bots will short it all apart in a millisecond..... -- you fast enough, punk?
It's time for a fruit bubble v1.
Nice to know that the market is controlled by a bunch of computers with brains that are the digital equivalent of a suicidal manic fanatic muslim off his lithium and on PCP in the middle of a synagogue armed with a suitcase nuke.
Or you could have just said Santorum at the Bunny Ranch?
pods
Who?
The funny part is, it's probably true.
1. Santorum The sometimes frothy, usually slimy, amalgam of lubricant, stray fecal matter, and ejaculate that leaks out of the receiving partner's anus after a session of anal intercourse. Named, by popular demand and usage, after legislator Rick Santorum because of his homophobic political statements. Example usage: "That move was about as slick as santorum!"Source
the market turns around, quick ben, mario run down in the basement and crank up the printing press
I feel sorry for the poor robot who bought the top only to be down 43% in a millisecond. That'll come out of it's bonus.
Stupid robot! That'll learn it.
It wasn't me, I'm only a bender!
You see this every day and wonder- where is the SEC.
YouPorn.com
Where is the SEC? Why, they're running interference for the criminals, of course. They aren't here to regulate, they're here to protect the banksters from the enforcement of regulations and law. They serve and protect the banksters, not the investors. Duh.
Wow,really?
Ah, so it was a rhetorical question? Sorry, I missed that.
How is it that traders don't have limit orders and trade triggers in place to punish bullshit like this?
What serious trader would dabble in that bullshit ETF (likely ETN)....
This kind of security is designed to part people that are not as smart as they think from their cash...
Call it getting MF'd legally....
The algo is the limit caller.
Show them the limit order and they trick you the other way... they don't play books with orders adverse to their interest. You don't really think you trap such predators with limit orders in the book, do you
The'd simply cancel the trade.
HFT has limit orders. They just change REALLY fast
And on and on it goes. What a pathetic excuse for a market.
It's the Whitney flash crash!
Damn should have bought that and set a stupid high sell limit order.
Does anyone know when the circut breakers close trading? Is it after a certain price is hit or is it based on volume?
The Dow does not like being over 13k.
Check, ....... We will look into this as soon as the MF investigation is finished.
The sad truth is that what just happened to SMB is what happens to SPY and the ES every day, just in a slower and more deliberate manner.
That's what slamming the exits shut looks like. 100 share lots?! That doesn't sound like the normal HFT bots. That's run for the exits.
Man that sure would suck if you put in a market order to buy that at the wrong time. Never ever buy with a market order.
I don't understand the ETF though, it says short muni, but it's clearly moving with the muni market not against it.
Think term.
Fed algo beta release.
I wonder what the SEC was masturbating to today.
Look at the spreads between the bids and asks. 25/56 between 13:31:07 and 13:31:08. Some idiot robot kept buying at the best ask, while someone else kept rasing it.
I often hear estimates that 40% of trades are attributable to HFT.
Does anyone know what volume of bids and offers is HFT traffic?
I used to make a market in these for a firm still in existence, but my job is gone. Create redeems are a nightmare, and if you had a market out there it would have stoped this, however we couldn't get volume necessary to trade, since any trade occured anywhere we weren't. basically its a machine frontrunning existing orders. All the real market makers who based off price of underlying are gone, we either couldn't short, couldn't create, or got run over when theres a blip in the underlying. This is what you get when only the machines are left.
I used to make a market in these for a firm still in existence, but my job is gone. Create redeems are a nightmare, and if you had a market out there it would have stoped this, however we couldn't get volume necessary to trade, since any trade occured anywhere we weren't. basically its a machine frontrunning existing orders. All the real market makers who based off price of underlying are gone, we either couldn't short, couldn't create, or got run over when theres a blip in the underlying. This is what you get when only the machines are left.
It's much easier to have machines do "God's work"
Silly people... chasing paper with paper. We were bored and needed some entertainment. Thanks for the laughs. Love, Benny B.
There you go again Tyler!!
Regulating the Market Participants!
Regulators! Mount Up!!
I wonder who was getting held hostage? so that someone elses monies could be protected via the walk back / un-wind.. keep one side wound up.. only to make some others unwind..
I want my silicon plug in! so that I can be part of the pass around sub-penny crew!
its not fair! WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA (baby crying)
Mens Vibram FiveFingers and Womens Vibram Shoes was designed to reinvent the pleasure of 'barefooting.' It allows us to go back to the beginning, the way we were supposed to live. The moment we start using the Cheap Vibram Five Fingers to move bare feet, we experience a sudden resurge of a lot of abilities that we had lost due to years of forcing our body into unnatural movement. Gradually, we start to get back our original way of walking, the pain that we used to feel in our calf muscles or around our waist suddenly vanish, and most importantly we start feeling free and happy.
The Vibram FiveFingers Shoes from Vibram was originally designed to increase the potential and performance of runners, athletes, and other people involved in adventure sports. With admit importance of barefoot running, Five Fingers Shoes have promoted the culture of barefoot running, and now many athletes world over find the Five Fingers Vibram their best choice. The increased grip, steadiness and quickness offered by barefoot moving with five finger shoes is useful for many, who have to make quick reflex-based movements or tackle rough terrain, muddy waters, slippery sands, and the like. The Vibram Five Fingers have already become popular among people involved in climbing, fitness training, martial arts, light trekking, yoga, canyoneering, running, pilates, sailing, boating, kayaking, surfing, flats fishing, travel, and Canoeing.Vibram Five Fingers Sale from Five Fingers UK nline with big discount and fast delivery,better choice for you
All affordable Mulberry Bags make a survey of their very own; you'll come upon hand bags that fit each and every single kind of style personality and elegance. Take it for a rocking night out, every time you might be off to function or perhaps should you are out basically to satisfy track of buddies. With Mulberry Alexa bags that are generally in fashion you may by no means really feel outdated when it comes to manner and luxurious.
You are able to select out of your several colors of Mulberry Handbags that are trendy, the materials used are trustworthy and in addition excellent top quality in Mulberry Sale online store . This can make specific your Mulberry Bag lasts through differing several weeks. Group it along with any kind of clothing and they are positive to create the way record using their vogue, color and main top quality finish.Buy Mulberry Outlet from Mulberry Factory Shop will you save a lot of time and money because of the full collections available and big discount,and the same time trustful!
Mulberry Alexa Bags
Mulberry Bayswater Bags
Mulberry Briefcase Bags
Mulberry Clutch Bags
Mulberry Cross Body Bags
Mulberry Handbags
Mulberry Bayswater Holdalls Bag Black
Mulberry A Daria Clutch Bag Purse Black
Mulberry Alexa Holdalls Plum Bags
Mulberry Calf Leather Clutch Bag Purple
Mulberry Alexa Holdalls Oak BagMulberry Hobo Bags
Mulberry Messenger Bags
Mulberry Shoulder Bags
http://www.alexabags2012.net