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Flash Crash (Or Crash Crash) Imminent? Put On Those 19.99% Down Limit Buy Orders Now

Tyler Durden's picture


The epic blow out accelerates with the widely followed (by the administration) DJIA dropping by over 400 points at last check. And as we warned earlier, the liquidation sell offs in PM, to no small part driven by rumors of yet another CME margin hike, are picking up pace, with silver tumbling from over $42 to just $38.50. We are very concerned we may see another Flash Crash, or Crash Crash as it would be better known assuming there is no imminent bounce back. As such we urge readers to immediately put limit buy prices across the entire S&P that are 19.99% down, as down 20% is the magical border below which the exchanges cancel all trades. Just in case, with circuit breakers at 10% for the top 1000 stocks, a 9.99% limit buy may be a better deal.


And as expected, we see another epic surge in churning.

Source Nanex


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Thu, 08/04/2011 - 14:38 | 1524313 TruthInSunshine
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U.S. claims Waddell & Reed is lauching fat fingered cyber attacks on U.S. and global markets & spreading libelous claims that global economy is a Ponzi scheme built on infinite fiat creation, and propped up by debt-laded, failed nations.

Ben S. Bernanke, in formerly secret testimony to a FISA Court, has signed an affidavit asking that NATO and/or the U.S. Pentagon launch drone attacks against Waddell & Reed, and further, Bernanke has privately briefed the President and Congress, alleging that only more quantitative easing will allow him to successfully defeat Waddell & Reed.

Jamie Dimon & Lloyd Blanfein also testified in support of The Bernank.



Thu, 08/04/2011 - 14:33 | 1524314 Ryman1075
Ryman1075's picture

*just holding my breath* for black friday...

Thu, 08/04/2011 - 15:23 | 1524463 Oh regional Indian
Oh regional Indian's picture

Hold it a little longer, till August 15th, my reckoning.


Thu, 08/04/2011 - 17:40 | 1524825 Black Friday
Black Friday's picture

Don't hold your breath, I am here.

Thu, 08/04/2011 - 14:34 | 1524315 Praetorian Guard
Praetorian Guard's picture

Open WIDE bitchez!!!!!!!!!!!!!!!!!!!!!!



I hear Johnny Cash singing AGAIN!!!!!!!!!!

WallStreet is a burning thing
And it makes a fiery ring
Bound by your wild desire
WallStreet fell into a ring of fire

WallStreet fell into a burning ring of fire
WallStreet went DOWn, DOWn, DOWn
And the flames went higher

WallStreet fell into a burning ring of fire
WallStreet went DOWn, DOWn, DOWn
And the flames got higher
And it burns, ooh it burns


Soon, it will be the ending song for Dawn of the Dead... HAHAHAHAHAHA

Thu, 08/04/2011 - 14:41 | 1524330 Ryman1075
Ryman1075's picture

I can't get "run to the hills" by Iron Maiden out of my head!

Thu, 08/04/2011 - 14:51 | 1524346 Jonas Parker
Jonas Parker's picture

I keep hearing a bugler blowing "Taps" ...

Thu, 08/04/2011 - 15:00 | 1524378 Praetorian Guard
Praetorian Guard's picture

Excellent!!!!!! All time favorite of Iron Maiden. Its sad, but that is a VERY possible reality!!!!! Remember the rule of THREE:

Three minutes without AIR - DEAD
Three days without WATER - DEAD
Three weeks without FOOD - DEAD
Three months without HOPE - DEAD

Get past the first three months and 80% of the populace is gone...

Thu, 08/04/2011 - 14:34 | 1524316 LRC Fan
LRC Fan's picture

If we get a bad jobs print tomorrow do we see the Dow -500 or more? Do we see oil below $80? Silver below $35? QE3 virtually guaranteed? Fucking insane swings today all over.

Thu, 08/04/2011 - 15:16 | 1524433 whaleoil
whaleoil's picture

I would be stunned to see a bad report tomorrow.  Betcha it'll be like +200000 with a .1 improvement in the rate

Thu, 08/04/2011 - 14:34 | 1524317 Josh Randall
Josh Randall's picture

Oh my lunch

Thu, 08/04/2011 - 14:46 | 1524342 Cash_is_Trash
Cash_is_Trash's picture


Thu, 08/04/2011 - 14:35 | 1524318 Larry Darrell
Larry Darrell's picture




Thu, 08/04/2011 - 14:36 | 1524320 nonclaim
nonclaim's picture

Broad market margin calls will pile on...

Thu, 08/04/2011 - 14:38 | 1524325 jkruffin
jkruffin's picture

Guy on bloomberg said the CME hike and the liquidation selling was a rumor, they said people just taking profits from the run this week. 20 days worth of gold bought in 3 days.

Gold will probably be near 1700 by payroll numbers are guaranteed to be poor according to data already available..

I would be using this dip to add to the gold position..

Thu, 08/04/2011 - 14:39 | 1524328 LRC Fan
LRC Fan's picture

Lol@ CNBC.

"In times like these people don't want to hold gold, they want Treasuries and the dollar!"

Be my fucking guest...I prefer silver/gold to paper. Especially right before QE3 kicks off.

Thu, 08/04/2011 - 14:52 | 1524348 baby_BLYTHE
baby_BLYTHE's picture

Bernanke to Ron Paul

“My definition of the dollar, is what it can buy. Consumers don’t want to buy gold; They want to buy food, and gasoline, and clothes, and all the other things that are in the consumer basket.”

Thu, 08/04/2011 - 16:33 | 1524665 Almost Solvent
Almost Solvent's picture

When gas is $30/gallon, the peons won't want no more $$$$!!!

Thu, 08/04/2011 - 14:40 | 1524329 FranSix
Thu, 08/04/2011 - 14:42 | 1524332 firstdivision
firstdivision's picture

The PPT is obviously here now. Hi Brian Sack!

Thu, 08/04/2011 - 14:42 | 1524336 MoneyWise
MoneyWise's picture

Unfortunately this site doesn't get loaded 90% of a time

otherwise, thanks for spook stories, great sale,

like it very much..

Can you push DJI to -500? Few of my Limited buys still

doesn't get filled yet.. Greatly appreciated.

Thu, 08/04/2011 - 14:43 | 1524337 Praetorian Guard
Praetorian Guard's picture

For your viewing pleasure... the masses will never listen... are you ready? ;)

Thu, 08/04/2011 - 14:44 | 1524339 chet
chet's picture


Thu, 08/04/2011 - 14:46 | 1524341 John McCloy
John McCloy's picture

This was not the Birthday Present the teleprompter was hoping for. This is going to do WONDERS for his approval rating.

Thu, 08/04/2011 - 14:57 | 1524366 Roger Knights
Roger Knights's picture

No wonder Geithner wanted out.

Thu, 08/04/2011 - 14:47 | 1524343 SilverRhino
SilverRhino's picture

How does silver go from 42 to 38.50 inside two hours? I mean the price just dropped off a fucking CLIFF.

Thu, 08/04/2011 - 15:37 | 1524516 Random_Robert
Random_Robert's picture

These price declines in Silver are easy to understand...

the price rises with open interest when buyers are coming in in larger quantities than sellers. The big commercial banks stuff the bid with quotes that hang a few cents below the tick, while orders get filled onsey-twosey as the ask occasionally falls to meet the highest bid. The Big commercials sell (short) lightly all the way up. As long as the ask is loaded with profit-making quotes, the trend continues upward.

But eventually the ask side begins to fill up with below market stop loss orders, and at some point, the large commercials pull all their bids, and the exchange begins executing orders relentlessly, as virtually any bid in the "stop zone" gets easily met.

and DOWN goes the price, with the commericals buying/covering the whole way down.

Manipulative? yes, to everyone except the CFTC.

Illegal? should be (as should all quote stuffing)

Unethical? absolutely

Thu, 08/04/2011 - 15:41 | 1524521 HungrySeagull
HungrySeagull's picture

And here I am manually adjusting ask and bids to follow the market as one lures a Trout to the fishhook.


On a day like today, I don't bouther. I just club out the Bid and throw the Ask grenade into the quiet river and watch the trout float by the dozen for the gathering.

Thu, 08/04/2011 - 15:00 | 1524344 Mr Kurtz
Mr Kurtz's picture

But...but, but...I was assured that the debt ceiling deal had to pass in order to avoid a market crash. Fucking Kool-Aid.

Thu, 08/04/2011 - 14:49 | 1524345 william shatner
william shatner's picture

I feel a bad moon rising!

Thu, 08/04/2011 - 14:58 | 1524372 Poetic injustice
Poetic injustice's picture

Is it time to see brokers window jumping yet?

Thu, 08/04/2011 - 15:01 | 1524383 Mr Kurtz
Mr Kurtz's picture

Maybe the proles on the street will catch them...with their bayonets.

Thu, 08/04/2011 - 15:01 | 1524382 John McCloy
John McCloy's picture

Capt. Scotty just rang me up on the com and he said you better get down to financial engineering asap.

Thu, 08/04/2011 - 15:03 | 1524385 Sudden Debt
Sudden Debt's picture

Let's get ourself some chickens and a bull and sacrifice them.

Can you read the future in bull guts?

I'll bring the chainsaw to chop it up ;)

Thu, 08/04/2011 - 14:52 | 1524347 NumNutt
NumNutt's picture

hmmm, I think I will stop by Walmart on the way home and pickup more ammo, can never have enough....

Thu, 08/04/2011 - 15:43 | 1524534 NumNutt
NumNutt's picture

dow -470, tell the band to keep playing right to the bitter end......

Thu, 08/04/2011 - 14:52 | 1524350 Dr. Richard Head
Dr. Richard Head's picture

Looks like my #35 silver call from yesterday, Ag to drop under JPM, was about right. Beep.....beeep......beeeppp......that's the sound of me backing up the truck.

Thu, 08/04/2011 - 15:09 | 1524407 fuu
fuu's picture

JPM:AG still under 1 for now.

Thu, 08/04/2011 - 14:53 | 1524351 Boston
Boston's picture

Where's Robo?

Thu, 08/04/2011 - 14:53 | 1524354 SolidSnake961
SolidSnake961's picture

got my 9% down Proctor and Gamble buy limit orders set just in case!

Thu, 08/04/2011 - 14:54 | 1524356 caerus
caerus's picture


Thu, 08/04/2011 - 14:55 | 1524359 Jim in MN
Jim in MN's picture

Funny how they adjourned the House of Reptiles for FIVE WEEKS so Ron Paul can't call any officials to any hearings....

Funny like strange....

Thu, 08/04/2011 - 15:00 | 1524381 Roger Knights
Roger Knights's picture

That brings to mind an old joke:


LBJ: I want to see the gold in Fort Knox.

Treasury: You can't.

LBJ: What? I'm the president!

Treasury: It's all gone.

LBJ: Well, then, double the guard.

Thu, 08/04/2011 - 14:58 | 1524368 Sudden Debt
Sudden Debt's picture




I bet when European markets open in 13 hours, they'll just go to the rock bottom.


Thu, 08/04/2011 - 15:26 | 1524476 Dr Zaius
Dr Zaius's picture

First deflation to justify the printing, then inflation followed by possible hyperinflation.


BTW, love your avatar.

Thu, 08/04/2011 - 15:32 | 1524505 -Michelle-
-Michelle-'s picture

DAX futures aren't looking too pretty right now.

Thu, 08/04/2011 - 15:32 | 1524507 -Michelle-
-Michelle-'s picture

DAX futures aren't looking too pretty right now.

Thu, 08/04/2011 - 14:58 | 1524370 Doyle Hargraves
Doyle Hargraves's picture

DOOM Bitchez!!!

Thu, 08/04/2011 - 15:00 | 1524377 MobBarley
MobBarley's picture

5 weeks. I get the feeling this is alot like Bush Jr's month long vacation just prior to 9/11.

Not that anyone knew anything was going to happen.


Thu, 08/04/2011 - 15:00 | 1524379 hungarianboy
hungarianboy's picture

What about the Basket? I see AUDJPY up, EURJPY up and ES down big time. No divergence? Tyler?

Thu, 08/04/2011 - 15:01 | 1524380 MobBarley
MobBarley's picture

5 weeks. I get the feeling this is alot like Bush Jr's month long vacation just prior to 9/11.

Not that anyone knew anything was going to happen.


Thu, 08/04/2011 - 15:04 | 1524389 arizona11912
arizona11912's picture

Its all by design; bankers take their profits and causes a dip to push for QE3. The country who is going to really take it in the shorts in the near term is Japan. If US and Western Europe doesnt buy their exports they'll have to turn to the IMF.

Thu, 08/04/2011 - 15:04 | 1524391 There is No Spoon
There is No Spoon's picture

I am very concerned for all the panic buyers of long dated treasurys.

Thu, 08/04/2011 - 15:08 | 1524405 AmazingLarry
AmazingLarry's picture

Plunge Protection Team FTMFL.

Thu, 08/04/2011 - 15:09 | 1524409 Quinvarius
Quinvarius's picture

over 1 billion ounces of spot traded in 2 hours.  30 million ounces available.  this is the one step back.

Thu, 08/04/2011 - 15:21 | 1524456 Greater Fool
Greater Fool's picture

Um...somebody over on Liberty Street had better pick up the Batphone....

Thu, 08/04/2011 - 15:22 | 1524460 Dr Zaius
Dr Zaius's picture

Will they let Obama ring the closing bell for his birthday?

Thu, 08/04/2011 - 15:35 | 1524511 NumNutt
NumNutt's picture

The should shove it up Timmy's butt and let Obama ring it from there.

Thu, 08/04/2011 - 22:06 | 1525365 StychoKiller
StychoKiller's picture

Cornelius:  "Dr. Zaius, what will Obama find out there?"

Thu, 08/04/2011 - 15:24 | 1524467 chump666
chump666's picture

This is how you make money in thin liquidity hft/investment bank panics, waiting for narrow bid/offer spreads. Find the correlation and set puts, that and we are now heading into a seasonal but several bear market, mix that with China, commods now will sell off very hard.

Thu, 08/04/2011 - 15:25 | 1524470 Silver Dreamer
Silver Dreamer's picture

On Google+ I had some self-proclaimed financial business analyst suggest this week's market drop had nothing to do with the debt deal and was just "daily fluctuations and emotions."  She followed up by giving her 15 years of experience and "WTF do I know?"  It is asshats like her that piss me off most.  She's in love with herself and suggested that her credentials were better than the other experts that got us into this mess.  /vomit

Thu, 08/04/2011 - 16:28 | 1524653 TheDriver
TheDriver's picture

Robert Scoble posted this today on Google+. Hilarity ensued.

"This is what happens when the Tea Party is allowed to take over our national discourse. I don't see it getting better, either. Obama can't increase spending to get us out of this one because of them, so I don't know what will get our economy moving again." -Robert Scoble

Thu, 08/04/2011 - 15:41 | 1524525 RockyRacoon
RockyRacoon's picture

Well... it's about goddam time.

Thu, 08/04/2011 - 22:56 | 1525492 Grand Supercycle
Grand Supercycle's picture

S&P500 head and shoulders target is 1,176 and further downside

As mentioned for some time - S&P500 monthly has been tracking sideways this year. This extensive distribution signified a bearish big picture and that a significant downtrend would follow.

Wed, 09/14/2011 - 04:49 | 1667406 chinawholesaler
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