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Exhibit A: Selective Fat Finger Deus Ex
Presented with little comment except to say, get some 'price change' context before you start throwing fat finger fantasies around... as 10Y Treasury Futures dropped 0.5% peak to trough while Silver lost at least 2% at a time in 3 legs down...
Of course their relative vols are different but perhaps for once, someone will simply recognize that the mirage of liquidity and markets that are believed to exist are never there when you really need them... large crowds and small doors...
Bloomberg comments that:
10-yr yield, now 1.980%, rose as much as 6.2bps to 2.005%; traders attribute to flows rather than ongoing Bernanke testimony.
“Large seller of duration in the screens and market depth was not there at that particular moment for that size,” Mizuho trader Richard Bryant said.
Wunderlich trader Michael Franzese attributed to seller of TY
As far as Silver - algo-driven liquidation of some kind we suspect as BoE and Fed QE-hope and LTRO-dreams fade... thanks to energy price rises getting out of hand.
Chart: Bloomberg
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where's the fat finger margin hike?
That's a different finger...
I'll lend my middle finger to the CME and CFTC.
Metals need to be manipulated and kept down, otherwise the jig is up. No rational market has candles like those in silver today. It was an opportunity for the cartel to bang it down.
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I can clearly see the Head and Shoulders on your chart.
nice convergence between Pt and Au...another $30 and they are back at parity
Pd has held up surprisingly well. maintaining $700 support.
Yes, the Cartel managed to knock Silver all the way back to....where it was 1 week ago. Oh No! What will I do (buy more of course, thanks Benny!)
What is truly disturbing it the thought of Kitco's "Even a broken clock is right twice a day" John Nadler rubbing one out in front of his monitor to the 1 minute chart of SLV today
Thanks for that image. *washes eyes with bleach*
that was a great post wasnt it (the middle finger guy)...
it got me banned from "MarketFarce" (MarketWatch)...
it was well worth it...
ps: fuck off bankers...i bought some more physical today...thanks you bitches....
You see....million dollar bonus was right. PMs are a bubble about to pop.
WERE until today, with the size of the bubble being exactly the amount they were pushed down.... which coincidentally was exactly the size it was pushed up previously.
The most ironic thing of it all, is that when the psyops folks scream "bubble" the most, they're actually speaking the truth...... just in a "slightly" different way than they imply, hehehe.
*blows lots of air into a stock* "Oh noes, look folks, bubble!"
"Waaaat? You liar, there is no bubble at all"
*pops the stock* "Oh lookee, now it corrected - see, i told you so!"
"Waaaaaaah, you bastard!"
They decided to change strategery this time...reduced margins a short while ago to screw levered-up new buyers.
The minute they did that, it was clear everything was in a topping process.
Paper Bitchez!
Paper has been bitchin' for a long time .....
But paper's days are numbered - China is becoming THE new Bitch on the block and she only likes physical.
Chinese have always got bitch slapped by much smaller nations. Tartars, Jappanese ...
"Someone" buying in China does not has to be only Chinese.
OT:
Dallas FED's Fisher says five biggest banks should be broken up.
No kidding.
http://www.cnbc.com/id/46574251
Does the breakup involve splitting them into "good banks" and "bad banks"?
Perception leads the way... until it doesn't.
CME says no reports of error trades after traders talk of 'fat finger' futures sale in bond market sell-off
No fat fingers...just fat lies and more crap
This is 100% on the money. I had the weekly 170 puts in GLD and they were 0.65 bid by 2.50 ask at multiple times this morning during the drop. The spread eventually narrowed, but that is not the sign of a healthy market. HFT liquidity is an illusion. Any day, we will see this type of price action in equities.
I would expect by March 2 at the earliest, March 26 at the latest.
Martin Armstrong has called for some sort of Panic on March 2 in a recent blog.
This is mentioned on page 6 of this link: http://www.martinarmstrong.org/files/The%20Curse/index.htm
March 26 due to the possibility of Greece defaulting.
Precious metals on sale! Get 'em while they last.
Im a bargain bitch. I want'em still lower.
Me, too. And I think we'll get 'em lower. But with silver at $8.40 in late 2008, I can't view its current price as a bargain, nor even the $26 low as a bargain. My perception might be totally incorrect, but I just can't pay that much for silver such a short time after it was under $10.
scary....when guys try to get out of a position holy shit....love to see the day..when they all try to exit AAPl
Be fun to watch with a bowl of popcorn and a few beers.
Anyone find the humor in PCLN priced about $80 higher than AAPL?
No time to laugh. Im too busy trying to figure out what Deus Ex means
haha, well done - you're getting more subtle, william. Thought you'd never evolve.
This is what I call the "Queen Bee" effect. In a normal market, trades come and go (like worker bees in and out of the hive) and things move in a randomized, but relatively gentle manner.
But in this algo-manipulated farce, TPTB occasionally sneak the queen out - the "pheromone trade" - and the whole hive empties. Just the way it was programmed.
My rant is done.
An AAPL a day keeps the benny away..
It keeps going and going and going and going....
Del
Up close, the Treasury Futures selloff was just not that dramatic or exciting: http://www.nanex.net/aqck/2925.html
Anyone here know why Turd Furguson's site has been down all morning *(sorry for the off topic question)
F**** Crooks, unbelievable - AND PLEASE SPARE ME THE RUBBISH NO QE3 - WHY IS SPX FLAT THEN AND APPL UP ??? GIANT BS.
So any precipitous drop is going to be met with the someone's "fat finger" argument. Wait and see. I'm telling you this is going to be their idea for why the market goes down.
Did the nut sack withdraw from the energy battle front and back over to the pm's ? It's as though the minute he looks away gasoline wants to pop up.
Perhaps someone here knows the answer to this. I've been trying to find info regarding which DMM (designated market maker/specialist) is responsible for which issues. The NYSE has a PDF online which lists BAC, Barclays, GETCO, Knight and Spear Leeds as the available DMMs but I'm not even sure how up to date that is.
I just brought up in my blog yesterday the strong possibility that metals could experience another "smack down" if they continued to reach for the skies.
My thesis was CB intervention but this actually looks to be more a result of CB's crushing the dreams of the QE to infinity crowd.
http://financeandopportunity.blogspot.com/2012/02/as-many-may-be-aware-precious-metals.html
Cheers!
Market Madness,
GML
the qe3 is not coming for now, that's reason.
http://www.jinrongbaike.com/
http://www.cnhedge.com/
fat fingers indeed, minimize theft?
http://expose2.wordpress.com