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Equity Pukefest Picking Up Steam Into Last Hour Of Trading, ES 1300 Taken Out

Submitted by Tyler Durden on 07/27/2011 15:24 -0400

Anyone who had hoped that the algobots, so good at creating an almost daily levitation rally, at 3 pm would save the day will have to wait. The volume of today's selliff is starting to provide unmanageable even for the HFT crew to stand against. The 1300 support level in the ES was just taken out. And a quick look at packet churning courtesy of Nanex into the last several minutes shows that we may soon get a perfect storm replica of what happened on May 6: all that needs to happen is for quote stuffing to surge and liquidity to disappear and the pogrom will be complete. At least the fund managers (the same ones who relied on S&P and Moody's for so many years to make their investment decision for them), are once again putting their money into Treasurys. You know, the first security to be impacted when the US defaults...

And watch as the little algos jump to life every time there is a big dump, courtesy of Nanex:

Update: And watch it surge to over 300 quotes/second

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Wed, 07/27/2011 - 15:28 | 1498901 midtowng

As long as Google and Apple are making money, who cares? Right?

Wed, 07/27/2011 - 15:35 | 1498940 Ahmeexnal

Forget GOOG and AAPL.

DNKN is up 50% today!

Wed, 07/27/2011 - 15:28 | 1498905 wang

still a ways to go before the Dow 10,000 party hats need to be broken out

Wed, 07/27/2011 - 15:34 | 1498936 JuicyTheAnimal

Only 83 Wang? You can do better.

Wed, 07/27/2011 - 15:39 | 1498962 Miss Expectations

Dust it off wang. When the moment arrives, don't expect to wear it more than a few nano-seconds.

Wed, 07/27/2011 - 15:47 | 1498995 SheepDog-One

Hell I already got me DOW 9,000 banana hammock out and washed in Downey!

Wed, 07/27/2011 - 17:49 | 1499523 Albertarocks

That's what I should have done. Instead, like the slob that I am, I went and did an S&P 500 shitfest:

http://4.bp.blogspot.com/_Qy4iftwk5JM/TTNmS0BDMcI/AAAAAAAAJ0I/OPkpn8ZVzG...

Wed, 07/27/2011 - 15:29 | 1498906 JuicyTheAnimal

& LOL@BAC

Wed, 07/27/2011 - 15:35 | 1498938 Cleanclog

BAC a true market indicator - get ready to bail banks again and add capital. Disgusting. Would be so much better to be pouring this money into infrastructure improvements all over the US and create jobs while at it. More bank bailouts for bankster bonuses makes me puke.

Meanwhile, robots resume buying the easy algo favs, taking indices back up a tad.

Wed, 07/27/2011 - 15:49 | 1499007 Gohn Galt

Burning money would be put to better use then giving it to any of those perverts. And yes the market is fixed and thanks to ZH I can casually buy or sell swings while working on my sustainability solutions.

Wed, 07/27/2011 - 15:29 | 1498908 Debtless

Hi newbie here.

The lady on the tv machine said to buy the dip in stocks...i'm confused.

Any help is welcome.

Wed, 07/27/2011 - 15:41 | 1498970 Bob

Sounds like the bots are on your side. Go all in.

Wed, 07/27/2011 - 16:58 | 1499284 fuu

He's trolling.

Wed, 07/27/2011 - 15:29 | 1498909 redpill

Can someone swing by Robo's mom's house and make sure he's ok?

Wed, 07/27/2011 - 15:39 | 1498964 Cognitive Dissonance

Mighty Mouse is here to save the da........<squish>

..........[reboot]............

Wed, 07/27/2011 - 15:39 | 1498967 slaughterer

Are you implying that Robo might be harming his mom?

Wed, 07/27/2011 - 16:02 | 1499009 Bob

I thought the fear was that Robo's mom might be kicking the shit out of him. Still--at the bottom of the basement stairs.

"Get. out. of. my. room!" isn't working for him today.

I'm guessing that instead of paying his rent, he's been trading on it "for you, Mom!", and thrilling her with her gains.

Next he's gonna roll out that menopause line . . . .

Look out, Robo! Look out!

Wed, 07/27/2011 - 17:21 | 1499390 Stax Edwards

Robot Traders Moms Avatar = Pure ZH Comedy Gold

I go a few days without seeing him, then he pops up, and I have to laugh every time.

"That right there is funny, I don't care who you are." Larry T.C.G.

Wed, 07/27/2011 - 15:30 | 1498913 buzzsaw99

This selloff is staged like everything else.

Wed, 07/27/2011 - 15:30 | 1498914 spongeBOB

Just did a quick reversal to the upside. No way they let it close below 1300..

Wed, 07/27/2011 - 15:30 | 1498915 spongeBOB

Just did a quick reversal to the upside. No way they let it close below 1300..

Wed, 07/27/2011 - 15:30 | 1498916 TheGameIsRigged

Please crash please crash please crash....Wake America up!!!!! (plus I just bought VXX)

Wed, 07/27/2011 - 15:33 | 1498930 Debtless

you JUST bought that? I'm sorry, LOL.

Wed, 07/27/2011 - 15:37 | 1498950 TheGameIsRigged

assuming you know when "just" was.....a minute, an hour, a day makes a big difference, guy.

Wed, 07/27/2011 - 15:40 | 1498969 Debtless

That's why i was asking...relax pussycat. Good luck with that.

Wed, 07/27/2011 - 16:05 | 1499080 TheGameIsRigged

Thx buddy. good luck to you.

Wed, 07/27/2011 - 15:30 | 1498917 John McCloy

This should be the perfect catalyst to get this debt negotiation sealed up..no worries they will fix it in the futures at 4am tomorrow.

Wed, 07/27/2011 - 15:30 | 1498918 RobotTrader

-1430 TICK reading today.

And the CRB Index, AUD, and gold haven't collapsed yet.

That's a major warning sign.

Wed, 07/27/2011 - 15:36 | 1498947 lieutenantjohnchard

true gold is hanging in there at 1% below its all time high, even as you've predicted 10 of the last zero collapses.

btw: gentleman jim sinclair sends warm regards wishing you all the best with your courageous investments in mo, vz and hd.

Wed, 07/27/2011 - 15:38 | 1498958 Johnny Lawrence

Um...VZ and MO are actually up today.

Wed, 07/27/2011 - 15:50 | 1499013 lieutenantjohnchard

um ... so what.

Wed, 07/27/2011 - 15:37 | 1498953 Cleanclog

ahhhh, Robo is okay.

Agree on the AUD and gold. Margin calls can't be that great if gold not being knocked down more on liquidity needs.

Wed, 07/27/2011 - 15:52 | 1499022 hackettlad

A warning sign of what exactly? The AUD hasn't collapsed due to investor perceptions of rising interest rates, not risk-seeking behaviour on the part of investors.

Wed, 07/27/2011 - 15:35 | 1498921 hedgeless_horseman

You know, the first security to be impacted when the US defaults

My take is that the pols will cut entitlements, and blame each other, but the banks will get 100% of their P&I payments. No U.S. Treasury default.

Wed, 07/27/2011 - 15:32 | 1498924 JohnG

VIX up over 10% in the day, over 40% in the last three weeks. Getting dangerous out here.

Wed, 07/27/2011 - 15:35 | 1498927 Mercury

Oh, they're building up the drama!...up until the inevitable:

My fellow Americans, today we announce that we have put aside our partisan political differences and agreed to print and borrow more money...

<applause> <melt-up>

Wed, 07/27/2011 - 15:33 | 1498928 RobotTrader

Tyler, how about a compression/expansion chart for ES and Risk Assets? Seems out of whack again to the other side this time.

Wed, 07/27/2011 - 15:38 | 1498957 SheepDog-One

What? You dont have one?

Wed, 07/27/2011 - 15:34 | 1498932 scatterbrains

What's kind of nice is while the ppt is hand cuffed, all the longs are holding their breath looking for an agreement or some kind of let up in the selling but imo there isn't going to be an agreement until commodities get flushed, which will lead to one of those 100 /es point wash out days yet to occur possibly tomorrow.

Wed, 07/27/2011 - 15:34 | 1498933 Bam_Man

They waited til 3:30 before starting today's levitation.

Sneaky bastards.

Wed, 07/27/2011 - 15:34 | 1498934 mt paul

paper peas

Wed, 07/27/2011 - 15:35 | 1498939 Stoploss

All i know is the RUT has no net except the 200dma

Wed, 07/27/2011 - 15:39 | 1498944 JohnG

This is an important article from yesterday, pretty much got ignored, very well worth reading the attached article.

http://www.zerohedge.com/contributed/broken-vol-skew-and-market-implicat...

Wed, 07/27/2011 - 15:36 | 1498946 HedgeAccordingly

Giddy on up.. the market is indeed lucid, i can detect a pulse doctor.

Wed, 07/27/2011 - 15:37 | 1498952 RobotTrader

VXN up 40% from 2011 lows and the QQQ's are only $1.50 off 3-yr. highs???

Wed, 07/27/2011 - 15:37 | 1498955 Stoploss

This is funny, they have to sell hard to flatten out the parabolic 200dma's. They will never hold.

Wed, 07/27/2011 - 15:38 | 1498956 Sandy15

The guy at the NY FED buying everything over the past 2 1/2 years must have gotten carpal tunnel and can't click the mouse today.

Wed, 07/27/2011 - 15:39 | 1498963 RobotTrader

By the way stocks are selling off, feels like the Euro should be down to 1.30. But it is still at 1.43. Why is that?

Wed, 07/27/2011 - 15:44 | 1498974 SheepDog-One

DOW off not even 200 and so therefore the Euro should be down 13 ticks? What the hell are you a crackhead?

Wed, 07/27/2011 - 15:45 | 1498979 Ahmeexnal

ECB link is still on dial-up.

When the data gets thru, EURO will experience a quantum tunneling to 1.23

Wed, 07/27/2011 - 15:58 | 1499001 lieutenantjohnchard

as his seed capital dwindles before his very eyes the 1099 processor ramps up his posts to distract his discomfort as he sits nervously glued to his screens in his swivel chair surrounded by monitors, hard drives and beautiful secretaries in a corner office somewhere in the greater los angeles area.

Wed, 07/27/2011 - 15:55 | 1499028 PhattyBuoy

Roubini says EURO is sound ...

http://forexblog.oanda.com/20110726/roubini-sees-reduced-threat-of-euro-...

Wed, 07/27/2011 - 15:46 | 1498971 Re-Discovery

For once, I actaully believe the 'hot air blowers' when they say that this move down in equities may have more to do with the absolutely shitty outlook for the economy than anything to do with the bullshit drama surrounding debt ceiling talks. It would make sense as otherwise Gold would already havebown past 1650 by now.

Of course the bullshit drama isn't helping the broader economy any (but when have they ever cared.)

Wed, 07/27/2011 - 15:48 | 1499000 wombats

Nope. Equities selloff is due to the hot weather.

Wed, 07/27/2011 - 16:08 | 1499091 Re-Discovery

You're right. I don't know what I was thinking coming up with a real reason. This is Alice In Wonderland, not the Age of Reason.

Wed, 07/27/2011 - 15:42 | 1498972 caerus

ES 1280...then 1260...look out below

Wed, 07/27/2011 - 15:45 | 1498980 Debtless

There are only dragons below that.

Wed, 07/27/2011 - 15:50 | 1499015 caerus

lol...I was wondering what's below the right shoulder? The armpit?

Wed, 07/27/2011 - 15:44 | 1498976 Cleanclog

Bizarre choice to have Valerie Jarrett do the Administration talking. Interpretation?

Wed, 07/27/2011 - 15:46 | 1498987 lizzy36

Big Birds mother.

Wed, 07/27/2011 - 16:07 | 1499090 Use of Weapons

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities.

Wed, 07/27/2011 - 16:17 | 1499123 Bastiat

She's in charge.

Wed, 07/27/2011 - 15:44 | 1498978 mfoste1

bullish next stop 2000

Wed, 07/27/2011 - 15:49 | 1498984 mynhair

Get that bidder for AVL at 6.10 outta my way!

Wed, 07/27/2011 - 19:01 | 1498989 carbonmutant

Any government big enough to take the markets up is big enough to take it down when they don't get what they want...

Wed, 07/27/2011 - 15:46 | 1498991 monopoly

They are selling gold to buy treasuries. Trust in the 3 stooges. Market never ceases to amaze me.

Wed, 07/27/2011 - 15:47 | 1498992 lizzy36

nuff'said.

Wed, 07/27/2011 - 16:19 | 1499135 Bastiat

Nice one!!

Wed, 07/27/2011 - 15:48 | 1498998 ThirdCoastSurfer

What, me worry? The Mexican Stock Market is up 200! Viva cartel!

Wed, 07/27/2011 - 15:48 | 1498999 trampstamp

I've been patiently holding my TZA since 1350's. I hope to see it go down some more. Buying small tna lots down.

Wed, 07/27/2011 - 15:48 | 1499002 CrashisOptimistic

The equities algos have no debt ceiling input in the headline reading sub-functions.

Today's move is all about the Euro being down 1.47 pennies.

In other words, the dollar is strengthening on news of ceiling impasse.

Wed, 07/27/2011 - 15:50 | 1499010 No Bid

love the volume

close at the lows

Wed, 07/27/2011 - 15:54 | 1499026 mynhair

Pukageddon stick save!

Wed, 07/27/2011 - 16:00 | 1499055 slewie the pi-rat

was that pimco coming into the long bond there? for abt 50 pts.

probably just short covering, at this point. open after breakfast; close after lunch.

risk off! ka-ching! 125.66

hahaha!

tomorrow is thursday.

Wed, 07/27/2011 - 16:23 | 1499158 djsmps

At least Netflix is a safe haven.

Wed, 07/27/2011 - 16:28 | 1499169 PulauHantu29

How about another nice, never-ending, jiucy war to pull us out of this recession...here is what The Daily reckoning wrote today:

"But now, the wars never begin and never end. There are no declarations of war. No debates in Congress. No surrenders. No armistices. No ticker-tape parades. We now have wars that go on forever against enemies who are never clearly identified, at costs that can’t be calculated and for reasons that can’t be explained."

Thu, 07/28/2011 - 10:45 | 1501095 Grand Supercycle

S&P500 monthly chart originally posted Jan 2011 - shows a series of broadening patterns, aka megaphone wedges.

The three broadening formations reveal an unstable market where buyers and sellers battle for control.

The first two megaphones make clear the eventual victors.

Prepare for the next Black Swan which will be ‘unexpected and could never have been predicted’.

http://stockmarket618.wordpress.com

Tue, 08/23/2011 - 23:37 | 1593590 karmete

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Equity Pukefest Picking Up Steam Into Last Hour Of Trading, ES 1300 Taken Out

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