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SkyNet Is Now Cannibalizing Itself: BATS IPO Flash Crashes
Presented with little comment - except the irony is simply too much to bear as BATS crashes from $15.75 to $0.038 in minutes...perhaps reflecting the WSJ article on HFT abuse and that BATS is being investigated for HFT abuse (ahem) on the day it goes public. We note that there were some trades executed at $0.00! The reason for the crash apparently is because BATS stock is ony trading on the BATS exchange, where apparently the APPL halt second before also happened. Pretty much tells us all we need to know about the stability of broken market structure. In other news, the stock, and exchange, have now been renamed BATShit - perhaps the VVIX can trade there next or something... And they wonder why nobody trades this farce of a market any more.
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Margin of safety
perfect because bats has had quote issues for two weeks now -http://hedge.ly/GIAJwV
BATS making billions on that $0.00000000 to $0.000000000000001 manipulated trade. If this is viable biz model then we all deserve the great crash more at apocalypse.
glad i sold my shares at 0.00 before they went negative
Oh, no. I put a bid at -0.02 for 1,000,000 shares and it was not hit. Would have netted me 20K.
After the gap up from .001415 to .00149, I knew my put options for nov2013 were toast.
It's getting funnier and funnier, BATS is done.
zero is a pretty good margin of safety
Go LOOOONG.
Bullish!
Skynet needs to be medicated (benzodiazepines & lithium).
I am sure that retail investors are becoming more comfortable with the notion of 'equity markets' as a stable, fair & non-corrupted (rather than galactically & massively rigged) avenue of asset class investment to help preserve and grow one's wealth. /s
Lol...low print on BATS is $.0002. High print after $16 IPO...lol...$15.75. Oh...and 1.257 million shares traded.
Nice broken market. Way to go Wall Street!
I guess this is what folks get for getting in on the IPO...or getting long flash crashers. Quick, on with BlowHorn [CNBC] programing that has nothing to do with anything.
This is fucking hysterical! Watching the book on it, it is utterly broken. Can't seem to clear that ASK at 13 cents.
Confidence inspiring!
LOL! Turned on the BlowHorn radio stream just in time to hear Bob Pisani say, "This is just a liquidity problem." LOOOOOOOOOOOOL! HOOOOOTINANY!!
Yeah, that's right...liquidity. Plenty now though, at 13 cents. All fixed.
Good grief!
Time for a market holiday?
Cdad.....the name is Bob Pissonme. And don't you forget it.
No one need fret.
The Wall Street Pond Scum Journal is on top of the story (with perhaps the most understated title of the year):
BATS Swings Lower At IPO Open
Dont worry! We've got The Bernank out telling school kids how kewl the FED is, as the last resort to anyone who might still believe him!
I show only 100 shares traded @ .0384. No further trades yet.
1.2M at the halt
The Detroitization of markets grows apace.
+1 for the use of "apace."
By "Detroitization" do you mean that the "helping hands" of the do-gooders are crushing the markets as just as they did Detroit?
"Holy SkyNet BATSman!! - Robin
The computers know what this market is worth: $0. The computers are smarter than the economists!
Fat finger warfare?
Buy with both barrels, bitchez.
BATS? Batshit?
I had a bid in at at .03876 wtf i want a fill lol
That's what I was thinking. "it ain't broken unless they break my trade.". And lest we forget this happened to Exxon/Mobil as well. Anywho..."the structure is fine...but the architecture is all wrong." For example i prefer my gargoyles on the ledge myself...not inside the building flying around again.
That's a clear sign of a deep and liquid market no?
I'm running low on derisive, cynical jokes today. TGIF
your plunge protection has kicked in
Note how the "market" ramping hard (gaps up) on these bad trades hitting.
Now, if there were "real people" in the market, tell me what would be happening...
Could BATS and AAPL be linked. They both experienced a sudden drop at the same time. Or very close to the same time.
Interesting way to manipulate the market:
1. Buy a small amount of shares, perhaps a few thousand
2. Short the same stock
3. Sell off the shares at a steeply discounted prices. Make several trades with with the steeply discounted price
4. cover your shorts.
Lose Money on the shares you sold, but make money on the shorts.
Yes, like BATS admitted, they had a technical problem involving ticker symbols between A and BF. If only there was a way to know which range of letters will be affected next ...
EDIT: Its Sasame Street Markets; today's crash is brought to you by the Letter A, the Letter B, and the Number 0.
just cancel all the trades below 15.74 and call a do over. Golfers call it a mulligan i think.
As an avid golfer I pefer to call it cheating.
thank you for clearing that up, while I"m not a golfer I can understand the concept of cheating. Simple really.
In 'the markets,' the Mulligan only cancels the losing side of the trade, bitchez.
Calvinball.
I thought you said cannibisize, if that was the case then super size me ;]
This is one efficient market - TVIX yesterday, AAPL 'fat fingered' flash crash, now this. Really inspires confidence in the general fairness of the markets. Honestly, I trust carnis running games on the midway more than the fuckers behind these markets.
Even shifty carnies know you must let the rubes win once in a while or they go away.
Can I use that? That's spectacular
Dear Goldman employee. Please desist from referring to Goldman Sachs clients as "rubes". The correct and approved term is "muppets". See memo 032112-0235 for instructions and examples of use.
But zero is probably a good price for this exchange....
fucking fidelity, when I put an order in on the ask at 0.0488 i expect you to do your job and fill it
As any smart investor can see, this shows the safest place to store your retirement money is in the ponzi stock markets which ARE REAL money... unlike that yellow disgusting metal that is only a tradition and can not be used to buy iPads
MDB, is that YOU?
L O FUCKING L
If this doesn't signal a market top, I don't know what does.
What else is going to fuel further ramps/levitation? China and emerging markets are slowing/contracting, no QE3, no LTRO (despite rumors), the US decoupling story is being proven bullshit...Major market correction coming. And no Bob PISSani, Cramer, etc. stocks dropping 1-5% is NOT the "correction."
The latest bullish macro rumor is the PBOC RRR rumor! Yippee! Should hit by Monday morning futures.
Wow, BATS dropped at free fall speeds....
and just like building 7, NO PLANE hit them
Rumor is deal may be cancelled.
Now THAT would be a Mulligan. FTW
starting to make the comex look good...
They are pulling apart the VXX now.
Next: negative prices.
Hilarious watching Bob Piss on me on CNBC trying to explain
"Bob Piss on me"
Okay confused. Does that reference have Bob pissing on you or is it Bob telling everybody else to piss on him? :->
This explains the Wall Street Racketeering Syndicate and their proxy mouthpiece communication channels such as cnBSc as well as anything:
Piss on You - YouTubeNow that is whacked...funny..but whacked.
I believe it's Bob's request
Bob's yearns for a golden shower.
After about an hour on the tower of power.
http://www.youtube.com/watch?v=sPDJXUW4ikA
If it weren't so funny it wouldn't be.
skynet just became self aware.
And he's heading to the bar for the booze to get blitzed, shot down by women and boast about what an amazing robot he is! (then fall face first in the gutter. The End.)
Then rehab then relapse.
Then rinse then repeat.
Self-knowledge will not help this monster.
What else can you say but 'LMFAO!'
Totally with you, Dog. Fucking laugh fest here. What sweet justice, in a public sense, that the flash crasher IPOs and then flash crashes, on the day that it is being investigated for...flash crashing.
Quick, on with a tumble-me-down-the-fucking-rabbit-hole story over at the BlowHorn, something about alpacas or fruit smoothie margin expansion.
$8 rice burritos to the moon!
I am delighted!
BATS … Making Markets Better.
(BATS motto from yesterday's PR)
"BATS … Making Markets Better. "
I agree, just depends on what side of the trade your on.
Blowin out stops and calling it busted trades! YEE HA!
Man I wonder how many Wall St biggies went all-in on this launchpad detonation? omfg
All of Wall Street just stops, stares, and says, "It wasn't supposed to do that. It was programmed to double itself. Fuck."
Looks like Obama's real approval rating.
Corzine brought you vaporization of client funds . Now it is the exchanges turn to rid you of your stocks
Oh sweet irony
BATS... aptly named for a suckers market.
...just reading the WSJ article...and the SEC is still "reviewing" the 2010 flash crash....trying to figure it out...
HFTs are just a computerized method of front running....as such, they are illegal if the SEC just enforced the law. Of course that would distract them from their midget porn surfing...
And really not a hard problem to solve, either. You just throttle the the queues that receive the orders to eliminate the possiblity of doing this bullshit. Buuuuuuuut, since algos are the only entities making trades anymore, without them, you would finally see what these stocks are worth--mostly zeros.
Bart Simpson: How much is one million times zero? And don't say zero!
http://www.youtube.com/watch?v=Rz2YptIXpfw
Maybe this is the actual value of batshit to a non farmer?
If that famous original flash crash really is one of the main reasons that volume, especially retail volume, has disappeared, what better stock to hit with a flast crash than Apple! The irony of BATS itself going to zero just proves that there is a God, a God with a sense of humor and a sense of justice.
Cool, now we get to see whether BATS embraces the Darwin plan out of the gate and wait 65 million years for it to "evolve" or if we'll be subjected to 2 to 12 thousand years of creation "science" waiting for it to either be wiped out by a sea of worthless paper whereas the chosen computers will hop on a Newtian space ship to the moon two by two for survival, or swim itself to redemption on an endless sea electronic zeros.
How many onces of gold is there in a BATS terminal?
For that matter, where'd I put my abacus and magic beads???
I had high hopes for this hunnert years.
HFC - High Fucking Computers. Sweet, pass the pipe HAL.
B.A.T.S
Bust ALL The SUckers
Now, stop with the Onion feeds,bitchez!
With laughter being the best medicine, I must salute our financial overlords for the best health care available.
Another example of more "Good customer Service". A growing trend in American Business...
Actually Panos from the Greece video is CEO of BATS. Its all part of the Greek 60 year plan to free the world from fascism.
"And to the rest of the world, your welcome, malakes ..."
I just entered a buy @ .0388, but the screen bid is still .0299! :)
Is this bearish or bullshit for BATS?
I'd say it's battish.
I concur.
Something weird is going on. Either the machines are revolting or al-queda has hacked the exchange. Anyway, unbelievable that the market is up today? (Oh that's right - the dollar is weak (and oil is soaring) I got shorter today on a feeling that this going to be an interesting spring. And I think it will begin getting interesting very soon.
This is hysterical.
http://online.wsj.com/article/SB10001424052702304636404577299560502440118.html
"BATS Global Markets said it wanted to try its IPO again in the afternoon, but has canceled the plan. " - Wall Street Journal
It looks like a good deal below a dollar. If it sounds too good to be true though well...you know.
I picked the wrong day to not be in the office. It would have been fun watching the festivites!
I wonder if any muppets placed a market order before going to work? LOL. It's not about investing, it's about fucking everyone over.