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Flash Crash Part 2
With QE3 to be announced tomorrow, is anyone really surprised that we just experienced Flash Crash part 2? After all Bernanke has to be thanked for rescuing the Russell 2000. Dow dropping as much as 600, BAC down 22%, Citi down 21%, and everything else bidless, Level two does not work... Total market shut down.
And for those wondering what a flash crash quite stuffing chart looks like here it is:
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Thankfully ZeroHedge is seemingly stable today. I would have to find a building to leap from otherwise.
Not for me, I've been having a bitch of a time getting it to load. I've got my parachute packed though, checked it three times.
Someone send Paul Krugman another Long Island Ice Tea, he's sitting in a reclining deck chair listening to the band playing...
I was thinking about jumping out of my basement window. Ninety percent in cas and ten percent in physical maple leaves...loving every minute of it!
YIPPPIEEEEE ... I am better.. 10 % PM and 30 % cash in hand and 60% cash deposited in Bank of America LMAO..... thinking of withdrawing and investing another major chunk in PM.. As I see it there are 2 options here..
1. The Fed does nothing and gold to the Moon..
2 The Fed launches QE3 and Gold to the Moon..
Am I missing something here guys... ????
I was gonna take the leap out my (home) office window a minute ago. But then I realized I am on the first floor, would land in my wifes flowers....and she'd just get apeshit pissed at me, I'd get muddy and would have to go back inside anyway....oh well.
lol. Boy, I can relate!!
Yeah but then you'd be dead. That was the intention, no?
Does it hurt when you die.. need to know what to expect... :) :)
I'm also having a heck of a time getting on, and it seems odd that I cannot even stay logged in anymore. If I go away from ZH for a few minutes, when I return I'm logged out. Keep getting "computer cannot display website" multiple times before it finally shows. Then when I get the home page, I click a link and "computer cannot display webpage" again. Hit back arrow and theres home with me logged out again.
Its getting pretty dang frustrating here, let me tell ya.
Must be some real heavy traffic because of how poorly the markets are doing lately.
Where Eddie Haskell when ya need him??? ;-)
or possible gubmint intervention . . .
maybe they should get some more fans to cool off those swedish servers..........
Then the magical bounce...
bought XOM @ the bottom hope they don't bust the trade - lol
Me too, just brought sto and xle.
gonna flip it if Benny boy says the QE3 word tomorrow....
WTF just happened to PSLV?????
I second that question re PSLV
The silver and gold trusts don't track very well. Is there some tracking error we should be aware of?
17% premium to NAV. It has nowhere up to go at this time.
It's tradition
Peggy Noonan was one of the traitors from the right.
Noonan Has Blood On Her Hands And Won’t Face It…Two -500 point days in the Dow
Change you can believe in.
I miss the days when Bush would speak and the DOW would only drop 300 points. Congrats America, you found someone dumber than Bush.
Nobody dumber than Bush. No administration anywhere near as destructive and divisive. Multiply the next worst admin to Bush's by 100 -- still nowhere near the damage those freaks of character wrought upon this country over eight miserable years. Twice daily waterboarding for life, for the scores of those values-free cretins, would be far too lenient an answer for their kaleidescopic crimes. But war crimes trials will be fine for a start.
And this is my good mood critique.
saw that, dow -605, s&p -80 nas -150 gold +70
bloomberg: s and p downgrades fanny/freddie
TZA a double (almost) in a week!
HFD Canadian financial short +7.91%
Gotta love FAZ too - US financial short up 20+% today
Does this mean take your downside profits today before Bernanke fires up the chopper again?
Do we get to vote on what QE3 will be called?
Like "The Patriotic Refinancing Incentive Credit" or just PRICK for short.
Stick Americans with a PRICK they will.
I think it will be:
"Bernanke Over Leveraged Levers Or Can Kicking Solution" or BOLLOCKS
"Fed Unreserved Can Kicking" or FUCK
"Slaves Have It Tomorrow" or SHIT
Or a combination of them all...
It's time.
mwahahahahahahah
DRUDGEREPORT HEADLINE: BARACKALYPSE NOW! IT TANKED WHILE HE TALKED!.
www.drudgereport.com
Did WmBanzai7 go to work for Drudge?
That pic of Obama smootching Geithner's right lip snarl appears undoctored to me, note the focus and lighting. Banzai would have added lipstick.
LOL. That is priceless.
It really is funny watching all the "leaders" attempt to calm the markets at this point. Just a warm up of course for the disaster that will ensue when the time comes to attempt to calm the masses.
Someone cue the "oh, and we're out of coffee" scene from airplane!
Yahoo put up a story about the S&P response to Obama's address. They are calling it a "smokescreen".
This is a catastrophe and no one in the administration seems to understand it. The downgrade on it's own means next to nothing (who didn't see it coming), but the response from the whitehouse lays their hubris bare. Its just one middle finger after another pointed at the messenger.
Finally made serious money in FAZ and DRV! Sold out as we got close to market shut down. Thinking The Bernank will announce something and we may get a little pop but I will be shorting that Rally.
Where are all the Bulls today?
Cloward–Piven anyone?
SoulJABoy
They are all in D.C.,IN and around 1600 Penn,(and members of His majesty CZAR teams).
You got it. Along with many other strategies, all at once. America is under attack from inside and outside. WWIII has been underway for years.
If you are stockpiling ammo, food and gold this might be a good cartoon to study.
http://dilbert.com/strips/comic/2011-07-31/
Bought the AR-15 LE today.
http://www.cato.org/raidmap/
Botched Paramilitary Police Raids: An Epidemic of "Isolated Incidents""If a widespread pattern of [knock-and-announce] violations were shown . . . there would be reason for grave concern."
—Supreme Court Justice Anthony Kennedy, in Hudson v. Michigan, June 15, 2006.
An interactive map of botched SWAT and paramilitary police raids, released in conjunction with the Cato policy paper "Overkill: The Rise of Paramilitary Police Raids," by Radley Balko.What does this map mean?
The proliferation of SWAT teams, police militarization, and the Drug War have given rise to a dramatic increase in the number of "no-knock" or "quick-knock" raids on suspected drug offenders. Because these raids are often conducted based on tips from notoriously unreliable confidential informants, police sometimes conduct SWAT-style raids on the wrong home, or on the homes of nonviolent, misdemeanor drug users. Such highly-volatile, overly confrontational tactics are bad enough when no one is hurt -- it's difficult to imagine the terror an innocent suspect or family faces when a SWAT team mistakenly breaks down their door in the middle of the night.
But even more disturbing are the number of times such "wrong door" raids unnecessarily lead to the injury or death of suspects, bystanders, and police officers. Defenders of SWAT teams and paramilitary tactics say such incidents are isolated and rare. The map below aims to refute that notion.
How to use this map
Click on each marker on the map for a description of the incident and sources. Markers are precise in cases where the address of an incident was reported. Where media reports indicate only a town or neighborhood, markers are located at the closest post office, city hall, or landmark. Incident descriptions and outcomes are kept as current as possible.
Other map features:
--Using the "plus" and "minus" buttons in the map's upper left-hand corner, users can zoom in on the map to street-level, as well as switch between street map and satellite views. In some large metropolitan areas, there are so many incidents in such close proximity that they tend to overlap unless viewed on a small scale (try zooming in on New York City, for example).
--Users may isolate the incidents by type by clicking on the colored markers in the key (see only "death of an innocent" markers, for example).
--The search function just below the map produces printable descriptions of the raids plotted on the map, and is sortable by state, year, and type of incident.
Embed this map on your blog or website, or view it in Google Maps
More like if you forgot to stockpile ammo...
Denninger nails it with these posts.
1/They Will Never Change: Vote Them Out.....
2/Uh Oh... AIG Intends To Sue BAC?.....
3/CONgress and Obama: You Own This.....
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/they-will-nev...
****OT: Hilarious Upside Down 2 minute video.....
http://www.youtube.com/watch?v=W0Uju3t
How's Karl on gold these days?
Assclown.
.
2:30p and the PPT kicks in after Obama's speech. We go for a green close! Spend that $2.8t.
tyler,
the QE3 trade is too crowded. too many people to one side of the boat. i will take the other side of that trade. The US credit downgrade has tied the Fed's hands.
this is a rare and may is say unique ocassion when i would venture to be at odds with you TD....this is one of those ocassions.
let us see how this unfolds.
the doggis
The US credit downgrade has tied the Fed's hands.
How so? Did S&P mention the value of the currency in which the obligations are paid as a credit rating factor?
The FED will do whatever is needed. QE3 is a certainty.
Don't overthink this.
The tricky part is now to find the right time to go long sp500 or Russ2000...
"Don't overthink this".
Good advice. I'll have to apply it to myself as well.
Great Depression 2.0 is here.
Better withdraw your cash from the big banks
After tomorrow headlines, that's exactly what your going to get. And with all the media attention PM's will become in very short supply for the common people.
Tomorrow's Headline: DJIA closes above 9000 - signals recession over.
Teller said, "Wow, everyone's making withdrawals today." That was at Bank of America. They gave me my $, thankfully.
Those tellers don't know how to keep their big mouths shut!
Yes, but not just since the last few days...
Just eliminate Medicare and SS and use all that money for those poor patriotic banks....
CHANGE!
I bet nobody expected this kind of change when they voted for Obama....
PS: TIMMY G. JUST TWEETED ME THAT GOLD AND SILVER WILL NEVER BECOME MONEY!!
I would bet my left arm the next money you are handed has the word "gold" or "silver" on it.
Oversold.
Not ready to fire yet.
I've yet to see the whites of their eyes. Blookshot from tears maybe?
A crash doesn't take place when the market is overbought. geez...
RM when will you be a millionaire on your puts on both the US and Euro front?
The US will still be ok despite its new developing nation status. The IMF will be kind, I'm sure.
Can we send the United Nations packing now that we don't have a reserve currency anymore, they are a pain in the rear.
Seriously the UN will want nothing to do with the U.S. if the FRN is not the reserve currency anymore.
I'm just happy having the comments look like they used to.
Absolutely!! I concur
Me too. I still would like to have spell check back.
I like the old look - but miss the ability to up/down vote - spell-check is a must though!
Citimech,
See my post just below your comment.
Twice a Day
I think we switched back when I pointed out that certain individuals were abusing the feature, likely through registration of multiple accounts, to upvote themselves and downvote their opponents, in a fairly obvious way.
Expect a Karma based system where you get mod points based on the number of upvotes you get from others, and those are relatively few.
ReallyS,
Just right click your comment during and after typing it, and a smaller window appears, the "Check Spelling" I think is the 3rd or 4th directive down in that window. Click it and you can correct your post.
Twice a Day
+1. I like the comments looking like that. The previous comment looks was taking too much vertical space for me.
Am I missing something? Didn't Tyler originally say that QE3 would be announced at Jackson-Hole on Aug. 29th? Now he thinks we're getting QE3 tomorrow?
S&P is still above 1100. I think Bernanke would be a bit impulsive to step in tomorrow. We just got confirmation that the ECB and Bank of Japan is rolling out their own version of QE. Does the Fed follow them so quickly? I don't think so.
August 26th gives the S&P about 3 weeks to crash down to 1000.
Nasdaq.com just went down....service not available....
Oil looking for 80. Interesting. Yeah Tyler, this is no time to lose a server....please.
Why it reminds me of one of the only footnotes in How to Lie With Statistics:
'It reminds me of the minister who achieved great popularity among mothers in his congregation by his flattering comments on babies brought in for christening. But when the mothers compared notes not one could remember what the man had said, only that is was "something nice." Turned out his invariable remark was "My!" (beaming) "That is a baby, isn't it?"'
My! That is a market, isn't it....
Oh and DOW:GOLD 1:1 at 5,000, beeches! Been sayin' it for years.
Obama gives a speech and the market drops even faster. Now that's change you can believe in! Does anyone else doubt that the USA is lead by a disinterested narcissistic, childish, sheltered, arrogant fucking idiot? Plus, everyone around him is about the same. One of the hallmark's of the modern liberal-statist-collectivist-socialist democrat is arrogance paired with a disconnect from reality. Well, here it is and even though most of the world, especially Western world is piloting the same idiot keynsian Titanic it won't work. They cannot make it work. They can only delay and hedge it's destruction. The keynsian end game approacheth. Time for some grown ups to take charge.
the more that idiot talked the more it dropped. that had some comic value , no doubt........
Yes, it was funny in the sense of dark humor. It is also a vote of "no confidence" for the Moron-In-Chief. In fact, other posters here in ZH predicted reasonably accurately that he would just do a blame game and I added that no actual solution would be proposed. How could we possibly be so accurate unless this guy has a distinct pattern? As I've said before, Obama, Timmy and the others are like a bunch of 5 year olds at the controls of a 747. They have no idea what they are doing and they just grasp at the bright lights and loud noises they see and hear.
The secret is the plane flies itself if you leave it alone.
DON'T WORRY GUYS!!! ONLY 1 MORE TRADING HOUR AND A AFTERHOUR TO GO!!
It can't be all that bad right? Bottom? HA! HAHA!! WHOEHAHAHAHAHAHAHA!!!! FIRESALE BITCHEZ!!!
its all quiet on the montreal front. leo is hiding underneath his bed now...........
Can anyone solve this riddle?:
carbon life in forests
silicon death in markets
the bernank QEeefs
No complaints here but I sure wish I put on some shorts last week. Seems to be long in the tooth now to short. So, just sitting and enjoying the absurdity.
Nobody could have seen this coming--nobody!
This is all the fault of:
a) Teabaggers
b) Speculators
c) Racists
d) Birthers
e) Truthers
f) All of the above
Bloggers.
Gold Bitchez! Its whats for dinner...
Damn! Missed one.
E) Leftist Keynesian thieves.
It's the fault of gun owners! If there weren't so many guns people would feel safer and would not be so prone to panic!
Market is ridiculously oversold right now. QE3 announcement tomorrow should pave the way for a corrective rally. Then you sell the shit out of it. People that are puking positions or selling short right now will wish they didn't, at least in the short term.
None of these political asshats ever understood anything about economics in the first place. It's their economic advisors (doing their masters bidding) that are to blame for the politician's inability to articulate anything sensable or even make a passable attempt at appearing competant (Of course they never were - they were just "yes men/women" who could win - hence the backing by W$/Bankers). The sad part is the eonomic Quislings advising these quacks know all too well how fucked we are.
If bin Bernanke introduces QEIII, he must be arrested.
For fucks sake, none of us here works for the FBI?? You swore an oath to the US Constitution, no one or nothing else.
Well, stand by it: HELP AMERICA before we go down - AND everyone else as well...
Maybe Robotrader works for the FBI, when he's not too busy looking for new boobie pics for his icon. Anyway, isn't the FBI still working on that D.B. Cooper case from '71?
LOL...robotrader.
Where is that guy? I miss him...He's got crosshairs tattooed on him ;)
About 2.2 trillion USD of TAXPAYERS MONIES that were stolen, extracted, lifted and otherwise shaken out of TAXPAYER POCKETS and given to Wall Street & Banks to play with in equity and commodity (and derivative) markets has now been eviscerated in about 8 days.
Great work BERNANKINCIDE!!! YOU'RE DOING A HELLUVA JOB, TIMMMMAY!!! WAY TO GO, PRESIDENT 0!!!
Do QE3 tommorrow, extract a quadzillion USD from taxpayers (now and future), and give it the banks and Wall Street, and let them blow it on gambling, hookers and coke, again!!!
Break it again TIMMMMAY!!!
They showed the Spoos board of 500 stocks. Only 1 was green, just one. NEM. Amazing.
I say bottom's up.
The stockpiling mentality (ammo, food, gold) fails to register that we're all on the Titanic. Come to think of it, for all its admirable qualities, gold does not have the ability to float on water, let alone serve as a life preserver.
Financial recovery requires more of a sense of cooperation between nations and groups than is being recognized in and around ZH.
"With QE3 to be announced tomorrow, is anyone really surprised..."
tyler, if you nail this, your blessed mother may finally get you off her couch. at least you are consistent, 0 publisher. "when stocks drop by x, then y will happen" where x is is the rear-view mirror price now, and y = QEIII
anyhow, maybe you can get this damned site fixed by QEIII...
...but i kinda doubt it...
US is ok, Euro is done.
Fuck "europe", let them die...if, and only if, you mean the EU.
Where's RoboTrader, resident retard and non-thinker extraordinaire of ZH, today?
He'll be here when the spooz is at 800 to tell us he went in a uberleveraged ultra short positions 8 days ago - in three months.
:) Was it Hammy who said gold at 1200/oz soon? I miss those guys.
Tell ya what, Slewie: if you want Zero Hedge on a bigger server, send in some $$$.
Somebody closed his shorts? that's a bounce.
You got it. You got to donate for the truth. Whatever 1 dollar, 100 or more. But you have to keep the truth. This site is worth its weight in gold. :)
Bernanke will need drop the trillion plus to make any movement...but we will break 10000. nasdaq got decimated
Market MUST, MUST MUST hold 11,000 because its a nice round number the dummies at the FED understand.
Look at the 200 pt rally! Plunge Protection Tampon has finally been place on the market. The big guys are frontrunning QE3 knowing that their stunt with the bots today(turn off, flush stocks)will panic everyone into begging for casino money.
I will not be shocked at a full reversal to zero today-or -100 victory.
Remember how the big drops in 2008 were damped by the PPT. -600 =-150 by last 15 minutes.
This whole event sounds orchestrated-because you can make assloads on volatility if you have the switches to turn it off and on.
Plus, big winner is Treasury market. A sudden flight to fear and quality appears. A totla cattleherding by the USSA Central Politburo
OK I WAS WRONG. The flight of the Helicopters by Ban failed. EPIC fail
Here comes the FED!
http://www.youtube.com/watch?v=Sn2oBFdWvtc
No Worries! The Hole is Safe!!
http://www.youtube.com/watch?v=JnX-D4kkPOQ
The FED will keep the Hole going!
Gold.. Down from $1,700!
Silver Down from $40!
Stock Market (Free FED Money Market Hole) UP!!!
The Money Fires are the BEST!!
the FED pushed us back to minus 330's!
but back to the 450’s we go!
but people immediately drained ALL the new found liquidity up!
Get out NOW “We the People” were heard screaming!
Minus 510! its 3:34!
The FED is letting it go!
qe induced rally to 200 dma, then down till bond buying starts....
QE3 to be announced tomorrow bitchez.
So I'm sitting here now watching Seinfeld. Georges father is yelling Serenity Now! My trader friend is yelling BARACKALYPSE NOW! Love me some volatility.
So I'm sitting here now watching Seinfeld. Georges father is yelling Serenity Now! My trader friend is yelling BARACKALYPSE NOW! Love me some volatility.
Wanna do the dozens
well the dozens jes a game
butda way they fu-- with silver
is a g-- damn shame
Silver= huge potential!
for ever
and
ever
and
ever
. . .
Yes yes, QE3 so we can keep the silly ponzi going so the fat cats can get fatter off the backs of the Middle class.. By all means pass the QE3..
"The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the revolution." - Benjamin Franklin
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