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DAX Futures Flash Crash

Tyler Durden's picture





 

Think it's all just a US debt ceiling issue? Think again. The DAX futures just flash crashed. And judging by the broad HFT stop happening all around, this is coming to the US any second. After all, gotta make sure Congress does as they are instructed.

 


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Mon, 08/01/2011 - 11:49 | Link to Comment ads56
ads56's picture

VERY BULLISH

Mon, 08/01/2011 - 11:54 | Link to Comment DormRoom
DormRoom's picture

It's that damn fractal algorithm pushing all indexes below their 200DMA to cause a system wide cascade.  Skynet is self aware.

Mon, 08/01/2011 - 11:49 | Link to Comment PY-129-20
PY-129-20's picture

Fortunately I assumed something like this would happen. DAX needed a good correction. It should go even lower.

Mon, 08/01/2011 - 12:14 | Link to Comment ZeroPower
ZeroPower's picture

Ran some stops at 7000. Obvs.

Mon, 08/01/2011 - 11:50 | Link to Comment JimRogers
Mon, 08/01/2011 - 12:14 | Link to Comment fishface
fishface's picture

DAX thats Frankfurt

mind you I can see some smoke in Paris too

Mon, 08/01/2011 - 15:58 | Link to Comment Highrev
Highrev's picture

Across the board in Europe.

AEX, DAX, CAC, MIB, IBEX.

And EUR/JPY.

Big money flow into YEN via the USD too.

Nice spike higher in the Swiss Franc too (not all JPY).

Mon, 08/01/2011 - 11:50 | Link to Comment Frog-And-Toad
Frog-And-Toad's picture

If this does come to the U.S. (or should I say when), will Silver/Gold all other commodities spike up, or will we see a repeat of 2008?

Mon, 08/01/2011 - 12:12 | Link to Comment traditionalfunds
traditionalfunds's picture

Positioning myself for a repeat of 2008.

When there is no liquidity bids will go down across the board. Since its difficult to pick a bottom 
the plan is to scale in at 1450,1350,1250. Will purchase additional physical for core holdings @ 1250 and below.

Downside to 1000 is not unrealistic. New metals holders had a taste of the violent moves PM can make with the silver mini crash. 2008 repeat will shake out many.

Good Luck

Mon, 08/01/2011 - 14:11 | Link to Comment JLee2027
JLee2027's picture

Or upside to 10,000 with Sysytem Implosion.

Mon, 08/01/2011 - 14:25 | Link to Comment Spitzer
Spitzer's picture

That is right.

The guy is also running a risk of a bank holiday where he wont be able to transact, he is also running the risk of a bullion bank holiday. and he is running the risk in physical drying up.

Fri, 09/30/2011 - 07:58 | Link to Comment rossi
rossi's picture

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Mon, 08/01/2011 - 13:41 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

We're in a different set of circumstances than in 2008.  I'm still actively adding physical.  The underlying value of gold in current dollars is ~$2,700.

http://research.stlouisfed.org/fred2/series/BASE

Fri, 09/30/2011 - 08:05 | Link to Comment rossi
rossi's picture

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Mon, 08/01/2011 - 11:50 | Link to Comment mynhair
mynhair's picture

Sell everything faster, Scotty!

Mon, 08/01/2011 - 11:52 | Link to Comment Cdad
Cdad's picture

but Captain...I'm selling as fast as I can...and she   can't   take   much    more!

Mon, 08/01/2011 - 13:12 | Link to Comment Goldenballs
Goldenballs's picture

Warp factor 6 and engines can,t take much more Cap,n.

Very Good Scotty.

Mon, 08/01/2011 - 11:51 | Link to Comment oogs66
oogs66's picture

the governments have all their cards on the table and its not enough to fix anything

Mon, 08/01/2011 - 12:06 | Link to Comment JohnG
JohnG's picture

Those are maxed out credit cards.

Mon, 08/01/2011 - 13:34 | Link to Comment Mongrel
Mongrel's picture

Cards with nekkid pictures of Nancy Pelosi and Michelle Obama on them? Oh boy . . .

Mon, 08/01/2011 - 11:51 | Link to Comment morph
morph's picture

Hit 6890

 

Mon, 08/01/2011 - 12:07 | Link to Comment ItFarmer
ItFarmer's picture

6860 was the low print

was halted at 6941 and crashed just after the reopen

last 6955 who had shorted the reopen is 95 below now , dax future is 25€ a point

Mon, 08/01/2011 - 11:51 | Link to Comment Debtless
Debtless's picture

Check out gold with the big $1630 fuck you to all.

Mon, 08/01/2011 - 12:03 | Link to Comment Zero Debt
Zero Debt's picture

Oh oh...

CAC -2.3%

FTSE -3.87%

IBEX -3.25%

S&P -1.18%

Mon, 08/01/2011 - 12:10 | Link to Comment EscapeKey
EscapeKey's picture

Every time it crosses 1,630, it is quickly beaten down again.

Mon, 08/01/2011 - 13:02 | Link to Comment Lord Blankcheck
Lord Blankcheck's picture

1000 stering must protected....for now

Mon, 08/01/2011 - 11:52 | Link to Comment Silverhog
Silverhog's picture

Reminds me of Yosemite Falls.

Mon, 08/01/2011 - 14:17 | Link to Comment GoinFawr
Mon, 08/01/2011 - 11:52 | Link to Comment RobotTrader
RobotTrader's picture

 

 

Crude Oil also flash crashing.

Instant tax cut for the U.S. Consumer

Los Angeles gas prices have outright plunged the last 3 months.

http://66.70.86.64/ChartServer/ch.gaschart?Country=Canada&Crude=f&Period...$/G

 

Mon, 08/01/2011 - 11:56 | Link to Comment Quintus
Quintus's picture

Looking at the big picture, crude is crashing because as every fricking indicator in the world is now amply demonstrating, the economy is falling off a cliff.

I'm sure the cheap gas will be a big comfort to LA consumers as they drive about aimlessly looking for non-existent jobs.

Talk about missing the wood for the trees.

Mon, 08/01/2011 - 12:01 | Link to Comment taraxias
taraxias's picture

He is a troll. He doesn't see the forest, nor the trees.

Mon, 08/01/2011 - 12:05 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

good one.

Mon, 08/01/2011 - 12:01 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

poor 'tard with his crazy bull call last night. as he circled the track last night with visions of a lulu lemon pair of yoga tights wrapped around his shoulder as if it were the usa flag, to the wild cheers of his star struck followers on zh, he forgot one thing. the market might not react as he deems. alas, the 'tard once again lives up to his claim proudly as the ultimate dumb money indicator.

Mon, 08/01/2011 - 12:13 | Link to Comment JohnG
JohnG's picture

Yoga pants in a pile on the floor is a BEAUTIFUL thing.  Yoga chicks can do some *amazing* things.  Good things.  So, more LULU please, means more yoga girls, win-win-win!!

Mon, 08/01/2011 - 12:27 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

i like the girl part.

Mon, 08/01/2011 - 12:33 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

Gold(en yoga) bitchezzz!!!.

Mon, 08/01/2011 - 12:59 | Link to Comment falak pema
falak pema's picture

but, but but, there is no Hellespont there!

Mon, 08/01/2011 - 13:01 | Link to Comment JohnG
JohnG's picture

Now that's what I'm talkin' about!!

Mon, 08/01/2011 - 13:18 | Link to Comment Sudden Debt
Sudden Debt's picture

looks like an expensive fuck...

 

Mon, 08/01/2011 - 13:39 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

lol.

Mon, 08/01/2011 - 12:01 | Link to Comment rsnoble
rsnoble's picture

No, your credit card will reset the charge to the higher amount after the problem is fixed. LMAO.

Mon, 08/01/2011 - 12:52 | Link to Comment mt paul
mt paul's picture

robo

your call of dow + 250 last night

might be a touch off the mark...

 

fork lift long

silber

Mon, 08/01/2011 - 11:53 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

The S&P just broke through the 200 day so, I'm sure everything will be fine.

Too many chciken shits around here.

Buy this dip you dumb fucks.

Fiat market prices are on fire, so get it while its hot.

Bernanke gots your back home nuts.

Mon, 08/01/2011 - 12:04 | Link to Comment rsnoble
rsnoble's picture

first time thru the 200 is the best indicator btw

Mon, 08/01/2011 - 12:05 | Link to Comment rsnoble
rsnoble's picture

'isnt'

Mon, 08/01/2011 - 12:31 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

Don't down vote me fucker, this is a buy of a lifetime.

Wait until Friday when that jobs report is released, you will see how fucking strong the economy is.

Green shoots you ass hats!!!

LOL!!!!

 

Mon, 08/01/2011 - 11:56 | Link to Comment B-rock
B-rock's picture

Wow, this is exciting!

Mon, 08/01/2011 - 11:56 | Link to Comment Archimedes
Archimedes's picture

So the Teleprompter in Chief should come on and speak soon...no?

Mon, 08/01/2011 - 12:16 | Link to Comment CrimsonAvenger
CrimsonAvenger's picture

When he damn well feels like it. We're on his clock, he's not on ours.

Mon, 08/01/2011 - 11:56 | Link to Comment Aductor
Aductor's picture

I saw DAX futures as they dropped and actually thought my feed was broken...

Mon, 08/01/2011 - 11:56 | Link to Comment Tense INDIAN
Tense INDIAN's picture

Its SELL-NOW-ASK-QUESTIONS-LATER time

Mon, 08/01/2011 - 11:57 | Link to Comment trentusa
trentusa's picture

Can somebody tell me what happen to the Forum?

 

I was trying to research smthng & it wasn't there...

Mon, 08/01/2011 - 11:57 | Link to Comment Quintus
Quintus's picture

Germany has just woken up to the reality that they are on the hook for several trillion Euros of bailout money for Italy and Spain.  Soon.

Oops.

Mon, 08/01/2011 - 11:57 | Link to Comment US Uncut
US Uncut's picture

What about the dow... seemed to have just dropped pretty fast. 

Mon, 08/01/2011 - 11:58 | Link to Comment ItFarmer
Mon, 08/01/2011 - 11:58 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

My Bloomberg terminal just broke.

Mon, 08/01/2011 - 11:58 | Link to Comment Dr. Engali
Dr. Engali's picture

The great reset is coming and there is nothing these chumps can do about it.

Mon, 08/01/2011 - 14:23 | Link to Comment Bob Paulson
Bob Paulson's picture

which chumps?

Mon, 08/01/2011 - 11:58 | Link to Comment I am a ..
I am a ..'s picture

3rd dip and now into the 3rd dead cat bounce.

Will we get into the fourth scenario. Yes, just as I am writing.

Looks like the end to something to me.

Mon, 08/01/2011 - 11:59 | Link to Comment Cassandra Syndrome
Cassandra Syndrome's picture

WTF WTI?

Mon, 08/01/2011 - 11:59 | Link to Comment franzpick
franzpick's picture

That $50 up day in AU may be at hand.

Mon, 08/01/2011 - 11:59 | Link to Comment pleseus
pleseus's picture

Feels like world markets major sell off is coming.  Global growth is slowing quickly.  People are finally realizing it.

Mon, 08/01/2011 - 12:10 | Link to Comment I am a ..
I am a ..'s picture

"Global growth is slowing quickly. People are finally realizing it."

Not 'people' but the speculators. Next come the investors and then managed money and finally 'the' people.

Mon, 08/01/2011 - 11:59 | Link to Comment MoneyWise
MoneyWise's picture

Usual Summer play, check back 2010 from May all the
way through September, then Bernank will take out
his shotgun, ones he get mad.

Mon, 08/01/2011 - 12:00 | Link to Comment Debtless
Debtless's picture

He who panics first panics best.

Mon, 08/01/2011 - 12:00 | Link to Comment firstdivision
firstdivision's picture

After watching oil today, I completely retract my statement that QE3 is off.  It is looking like a set up to get QE3 on is forming in the markets.  WTI is very close to breaching that $90 threshold.  Buckle up people, QE3 in T-minus 29 days.

Mon, 08/01/2011 - 14:12 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

This.  TZA puts from October on are looking a bit cheap already, we're going to get a pretty saucy run in 4Q.  They called S&P 1400 at the beginning of the year, and they're gonna make that happen.  

Mon, 08/01/2011 - 12:03 | Link to Comment DavidC
DavidC's picture

HFT.

Great on the way up, not so great on the way down.

Unless you've been expecting it. Joe Saluzzi and Sal Arnuk of Themis Trading have said along the lines of when the fall starts the HFTs will just pull and there will be nothing to stop it. They could be right.

DavidC

Mon, 08/01/2011 - 12:08 | Link to Comment Quintus
Quintus's picture

Funny enough, it turns out that if you force any and every short out of the market, by repeatedly raping their trading accounts, they won't be there to provide short-covering related buying when things start to drop hard.

Who'd have thought?  Central Planning screws up again by focusing only on the ultra-short term.

Mon, 08/01/2011 - 12:03 | Link to Comment mynhair
mynhair's picture

Is the bounce off the lows still scheduled for 12:30?

Misplaced the memo....

Mon, 08/01/2011 - 12:40 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

If this drop is the QE3 scare, then we have a way to go.  Buckle up.

Mon, 08/01/2011 - 12:03 | Link to Comment packman
packman's picture

Hmmmm - is it me - or did the crash start just about 5 minutes *before* the offical ISM release?

Insider trading?

 

Mon, 08/01/2011 - 12:06 | Link to Comment EscapeKey
EscapeKey's picture

In percentage terms, the IBEX is down even further.

The USD/JPY has recovered from 76.29 to currently sit @ 76.96.

Mon, 08/01/2011 - 12:11 | Link to Comment jkruffin
jkruffin's picture

Anyone not long USD/JPY down here, might need to take an economics course for real......especially with stocks getting thrashed and the Euro risk on trade unwinding due to 5 bankrupt countries beyond repair

Mon, 08/01/2011 - 12:16 | Link to Comment EscapeKey
EscapeKey's picture

Still substantial carry trades being unwound, I wouldn't want to bet either way.

Mon, 08/01/2011 - 12:04 | Link to Comment bob_dabolina
bob_dabolina's picture

/6s hit 1.2944 earlier, intense

Mon, 08/01/2011 - 12:07 | Link to Comment RiskAverseAlertBlog
RiskAverseAlertBlog's picture

As soon as I'm done writing this, I'll be polishing my jackboots, readying for my march in the Congressional Victory Parade. Sieg Heil!

Mon, 08/01/2011 - 12:07 | Link to Comment oogs66
oogs66's picture

isn't it only a flash crash if it bounces?  if it goes down and stays down it's a real crash :)

Mon, 08/01/2011 - 12:08 | Link to Comment swissaustrian
swissaustrian's picture

Illiquid for almost 4 minutes. Totally strange move...

Mon, 08/01/2011 - 12:12 | Link to Comment ItFarmer
ItFarmer's picture

yes at 17.38.21sec print a 6952.5 1 second after the print was 6941 with 1 contract, and was halted

Mon, 08/01/2011 - 12:13 | Link to Comment ItFarmer
ItFarmer's picture

so 10.5 pts gap down without bid in the books, based on my data

Mon, 08/01/2011 - 12:09 | Link to Comment MoneyWise
MoneyWise's picture

flash crash is over USDCHF /USDJPY claiming back up,

we might finish Green ones votes gets through.

Bear trap.

Mon, 08/01/2011 - 12:25 | Link to Comment ATG
ATG's picture

How's that trade working out for you?

Mon, 08/01/2011 - 12:10 | Link to Comment Forgiven
Forgiven's picture

<----- Meh!  Transitory bitchez

<----- Screwed, get your bug out bag!

Mon, 08/01/2011 - 12:10 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

FTSE almost down 4% bitches.

Shut the front door!!

Mon, 08/01/2011 - 12:13 | Link to Comment Sunshine n Lollipops
Sunshine n Lollipops's picture

'Flash Crash' has that catchy, newsbite cachet that's so popular these days......easy to say and fun to repeat, but it doesn't quite capture the subtle nuance of the event. They should really call it 'Grand Larceny.'

Course, that's just my opinion.

Mon, 08/01/2011 - 12:15 | Link to Comment Hedgetard55
Hedgetard55's picture

Listening to Rush today, he sounds either drunk or had a mini stroke.

Mon, 08/01/2011 - 12:42 | Link to Comment Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

It's all that righteous indignation (and some Rohypnol). Or perhaps he was trying to stroke his "mini Rush" whilst on the air.

Mon, 08/01/2011 - 12:47 | Link to Comment RockyRacoon
RockyRacoon's picture

I wouldn't doubt that his strokes are quite short -- assuming he can even find it.

Mon, 08/01/2011 - 12:17 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

Consequences will never be the same:

http://www.youtube.com/watch?v=iUAn_dHMnbs

Mon, 08/01/2011 - 12:18 | Link to Comment apberusdisvet
apberusdisvet's picture

How now brown DOW?

It looks like shit, so be it

as things unfold,

go to gold

Mon, 08/01/2011 - 12:18 | Link to Comment bania
bania's picture

No crisis left behind

Mon, 08/01/2011 - 12:20 | Link to Comment FranSix
FranSix's picture

Japanese ¥ sub-77

Mon, 08/01/2011 - 12:21 | Link to Comment Cman5000
Cman5000's picture

Cyprus may soon have to seek an international bailout, becoming the fourth state in the euro zone to request a rescue if it does not take urgent action to repair its finances, the island's largest commercial bank said on Monday. Shit storm Monday ...

Mon, 08/01/2011 - 12:23 | Link to Comment ATG
Mon, 08/01/2011 - 12:24 | Link to Comment Manzilla
Manzilla's picture

http://twitpic.com/5zeeo1

It sure looks like a pretty day.

Mon, 08/01/2011 - 12:26 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

After all, gotta make sure Congress does as they are instructed.

+1, Tyler

Mon, 08/01/2011 - 12:28 | Link to Comment dehdhed
dehdhed's picture

statistically most flash crashes have signaled a buying opportunity, .. go figure

i'm not sure this qualifies as a flash crash tho

Mon, 08/01/2011 - 12:27 | Link to Comment bania
bania's picture

Vaddel und Reit, Zicke!

Mon, 08/01/2011 - 12:50 | Link to Comment FranSix
FranSix's picture

Realterm.de DAX in Gold:

 

http://www.realterm.de/DAXinGold.php

Mon, 08/01/2011 - 13:02 | Link to Comment falak pema
falak pema's picture

flash crashes are like summer storms...violet wet, violent bent and transient. The sun shines a half our later. Is Berlusconi planning a bunga bunga while Milan burns?

Mon, 08/01/2011 - 13:03 | Link to Comment walküre
walküre's picture

Is shorting the DAX now possible or not?

Mon, 08/01/2011 - 13:16 | Link to Comment Sudden Debt
Sudden Debt's picture

If nobody watches when a market flashcrashes... did it crash?

And why do they call it flashcrash instead of Crashflash?

It's this kind of stuff that keeps me awake...

 

Mon, 08/01/2011 - 13:20 | Link to Comment Scipionz
Scipionz's picture

Buy the dip..........

Oups, this ain't PM... LOL!

Mon, 08/01/2011 - 13:24 | Link to Comment youngandhealthy
youngandhealthy's picture

Flash crash.....!!?? (Fleich Kratz)

You surely must be joking Mr Tyler

Mon, 08/01/2011 - 14:07 | Link to Comment Saxxon
Saxxon's picture

Spec Long UPRO fifteen minutes ago.  If we don't bounce back over the 200 SMA right soon (like, tomorrow) the bottom drops out and the Admin knows it, acutely aware as they are of markets.

I believe a stick save is in order and we get it.

Mon, 08/01/2011 - 14:13 | Link to Comment buzlightening
buzlightening's picture

The evil empire will have you worship the beast. The world wide goon squad can pull the plug on markets; banking as we know it in a flash. Good thing for ameriCON'd the wooden heads in CONgress/SINate are there for us. AmeriCON'd will be the last to awaken to a debt based currency, as the USDinker dollar going worthless, racing to zero along with the rest. AmeriCON'd has been asleep the longsest. Lulled into a carnal security thinking government is here to help us. It'll be a real financial slaughter coast to roast when it all goes. Only thing the 3 stooges of triple A rating agencies will be grading is the ameriCON'd citizen slaughtered; porked in the rear end by benron and gang. Triple A financially slaughtered. bendover and gang having jiffy lubed the world as the ultimate grease monkeys. Planet of the apes a reality. 

Mon, 08/01/2011 - 14:44 | Link to Comment TruthBeforeAll
TruthBeforeAll's picture

Cool. I got two cherries in my Steak & Shake chocolate shake today instead of just one!

Tue, 08/02/2011 - 03:30 | Link to Comment speedy
speedy's picture

Get out your dax 5000 hats.

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