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Think You Bought (Or Sold) FaceBook? Think Again

Tyler Durden's picture




 

If you just submitted an order to buy FB today, and were confident the order was executed even if at market, you may be out of luck:

  • NASDAQ HAS PROBLEM DELIVERING FACEBOOK TRADE EXECUTION MESSAGES

What this means is that the exchange at this point is deciding whether or not to send back late executions to all people who bought, or thought they bought. Needless to say this means that the indicated price is likely not the real price if one factors for all the latent orders, on both the bid and offer side, unless of course all those orders get cancelled, further eroding confident in the market, only this time hitting that one segment most disenchanted with the stock market - mom and pop.

 

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Fri, 05/18/2012 - 12:14 | 2440440 Mongo
Mongo's picture

This is where Jamie "Deamon" goes WTF and the rest of us go LOL

Fri, 05/18/2012 - 12:17 | 2440471 battle axe
battle axe's picture

Who cares about god damn Facebook! Move on to something else Tyler, boring....

Fri, 05/18/2012 - 12:18 | 2440481 SheepRevolution
SheepRevolution's picture

Oh no no no, see this is the hour when we kick the SOB lying down on the ground..

Fri, 05/18/2012 - 12:19 | 2440488 CrazyCooter
CrazyCooter's picture

GoogleNews and Drudge are both reporting how "up" FB is, LOL.

Regards,

Cooter

Fri, 05/18/2012 - 12:21 | 2440513 Manthong
Manthong's picture

Um… can you point me to the fire exit? 

It seems a tad smoky in here and I am have a bit of trouble pressing through this huge crowd..

Fri, 05/18/2012 - 12:34 | 2440570 bdc63
bdc63's picture

HUGE black eye for Nasdaq.  First they court Facebook.  Then they celebrate the win of the listing.  Then they completely botch up the IPO day.

Good luck winning another IPO there Nasdaq.

Fri, 05/18/2012 - 12:38 | 2440584 clones2
clones2's picture

Maybe they should have been spent for time getting this IPO ready    /sarc

Fri, 05/18/2012 - 12:39 | 2440601 Paul Atreides
Paul Atreides's picture

Opening delay was due to the HFT plunge protection algos not coming online...this blue turd would have broke through $30 in an hour without them...

Fri, 05/18/2012 - 12:41 | 2440613 Mark Carney
Mark Carney's picture

Anyone else notice how spastic trading that has been going on in numerous companies (Zynga, LKND, FB, BBY, GRPN)....wild swings galore!

 

Odd day......

Fri, 05/18/2012 - 12:46 | 2440634 mendigo
mendigo's picture

Selling was detected...must be investigated.

Fri, 05/18/2012 - 12:38 | 2440590 malikai
malikai's picture

"They trust me.. Dumbfucks"

Fri, 05/18/2012 - 12:31 | 2440532 tocointhephrase
tocointhephrase's picture

and bbc... jokers http://www.bbc.co.uk/news/business-18115914 YOU CAN POST A COMMENT AT THE BOTTOM of the page AS WELL, not that I would want you all to overwhelm them!

Fri, 05/18/2012 - 12:25 | 2440537 Xkwisetly Paneful
Xkwisetly Paneful's picture

Not the direct retail public, currently running 3-1 against FB which is about as one way on the downside as possible.

It's fun though to pretend people are madly clicking their mice at home trying to buy shares in some futile exercise.

Fri, 05/18/2012 - 12:27 | 2440547 resurger
resurger's picture

So much money at stake .... am on the sidelines watching

Fri, 05/18/2012 - 13:09 | 2440737 Sudden Debt
Sudden Debt's picture

THIS IS WORSE THAN THE COMEX AND MF GLOBAL COMBINED!

Who sold what to who and who has what... Soon they'll tell us they sold 100 times more than there was stock available...

Fri, 05/18/2012 - 12:53 | 2440665 El Oregonian
El Oregonian's picture

Sounds like 'ol b/a got "Face-Crotched" some time yesterday... (WAH)

Fri, 05/18/2012 - 13:39 | 2440837 SILVERGEDDON
SILVERGEDDON's picture

If you bought into this Jersey Shores Snookie shit, you all deserve to be executed - without delay !

Fri, 05/18/2012 - 12:20 | 2440498 BorisSDT
BorisSDT's picture

This keeps getting better and better... Why Facebook isn't worth even half of what they're asking: http://www.singledudetravel.com/2012/05/why-facebook-isnt-worth-100-bill...

Fri, 05/18/2012 - 12:29 | 2440553 CrazyCooter
CrazyCooter's picture

Or this ...

http://www.forbes.com/sites/ryanholiday/2012/05/17/why-i-lost-my-faith-in-facebook-advertising/

If FB actually crashes, in spite of all the hype in the news, it will be epic. I am spending just as much time looking at the scrolling articles on google news for FB ... hehe ... it's like there are two realities!

Regards,

Cooter

Fri, 05/18/2012 - 12:53 | 2440670 Bizaro World
Bizaro World's picture

There are two stories but thankfully only one reality. Thanks to ZH for keeping us aware which one holds truth.

Fri, 05/18/2012 - 13:01 | 2440705 DaveyJones
DaveyJones's picture

Kinda sums up where we're at. Paying a 100 billion for a website whose main purpose is sending friend "requests" from high school folks I never wanted to see again.

Fri, 05/18/2012 - 12:24 | 2440531 Bastiat
Bastiat's picture

NASDAQ HAS PROBLEM DELIVERING FACEBOOK TRADE EXECUTION MESSAGES

Maybe they should try tweeting them.

Fri, 05/18/2012 - 13:21 | 2440776 BeetleBailey
BeetleBailey's picture

LOL +100 Bastiat

Fri, 05/18/2012 - 12:26 | 2440540 Caviar Emptor
Caviar Emptor's picture

Faace Boook been bery bery goood to me!

Fri, 05/18/2012 - 12:34 | 2440571 ClassicalLib17
ClassicalLib17's picture

Is that you, Chico?

Fri, 05/18/2012 - 13:50 | 2440873 asteroids
asteroids's picture

Today's action is the equivalent of the BATS IPO. I wonder if this is revenge by some parties.

Fri, 05/18/2012 - 12:14 | 2440441 bingo was his name
bingo was his name's picture

Facepalm

Fri, 05/18/2012 - 12:22 | 2440518 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Fakebook

Fri, 05/18/2012 - 12:34 | 2440575 HardlyZero
HardlyZero's picture

Farcebook.

Greek facebooking it on Google...

We are ZINGA !

Fri, 05/18/2012 - 12:47 | 2440642 Cthonic
Cthonic's picture

Facemook

Facebork

Facecrook

Faecesbook

 

Fri, 05/18/2012 - 12:54 | 2440677 Caviar Emptor
Caviar Emptor's picture

 

FakeBoob

FalseDook

Fri, 05/18/2012 - 12:40 | 2440604 MsCreant
MsCreant's picture

Facecrook?

Fri, 05/18/2012 - 13:04 | 2440720 DaveyJones
DaveyJones's picture

Assflick

Fri, 05/18/2012 - 12:15 | 2440448 slaughterer
slaughterer's picture

What a Ponzi Banana Republic.  

Fri, 05/18/2012 - 12:15 | 2440449 mammoth mo
mammoth mo's picture

Translation - if it goes up you didn't get it.

If it goes down you got it at the high price.

Fri, 05/18/2012 - 12:19 | 2440487 scatterbrains
scatterbrains's picture

is that sorta like HFT'ing the HFT market ?

Fri, 05/18/2012 - 12:20 | 2440497 mammoth mo
mammoth mo's picture

Exactly

Fri, 05/18/2012 - 12:53 | 2440672 Rahm
Rahm's picture

Where's Corzine today?

Fri, 05/18/2012 - 12:23 | 2440503 monkeyboy
monkeyboy's picture

Like

Fri, 05/18/2012 - 12:15 | 2440452 TradingTroll
TradingTroll's picture

Its like the stock market was just invented ysterday and its a test run.

 

Just like Fukushima, FB will have its plutonium explosion moment. From all the hota air built up.

Fri, 05/18/2012 - 12:15 | 2440453 tocointhephrase
tocointhephrase's picture

MDB did you get the message?

Fri, 05/18/2012 - 12:15 | 2440457 Boilermaker
Boilermaker's picture

Flawlessly Fraudulent

Fri, 05/18/2012 - 12:16 | 2440459 mayhem_korner
mayhem_korner's picture

 

 

Way to make Friends, eh?

Fri, 05/18/2012 - 12:16 | 2440461 Conman
Conman's picture

PPT there you are - can't let facebook fail!

Fri, 05/18/2012 - 12:29 | 2440555 Boilermaker
Boilermaker's picture

Golly, a little obvious...and pathetic.

Fri, 05/18/2012 - 12:16 | 2440462 TooBearish
TooBearish's picture

My HTF platform has already cranked 1,000,0000,000 quotes- how can that be?

Fri, 05/18/2012 - 12:28 | 2440551 Liquid Courage
Liquid Courage's picture

Couldn't be your typos, could it?

FatFingers => FatTails?

Fri, 05/18/2012 - 12:16 | 2440463 insanelysane
insanelysane's picture

In case you needed help to projectile vomit.

Our amazing CNBC research team just sent this note: Facebook topped 200 million shares traded in its first 20 minutes. Here’s how it compares: Visa: 177 million, Google: 22.4 million, Linkedin: 30.2 million, and GM traded 458 million on its first day of trading.

by Gloria McDonough-Taub on Friday, May 18, 2012 at 12:12:46 PM

 

Took amazing research to find out the number of shares traded on a publicly traded company???

Fri, 05/18/2012 - 12:55 | 2440683 710x
710x's picture

"They", whoever they may be, are trying to keep the market up through FB.  This explains the immense amount of shares already traded, the problems filling orders, and the ridiculously high valuation.

Fri, 05/18/2012 - 12:16 | 2440466 Dr. Engali
Dr. Engali's picture

Skynet is angry. Systems are going down eveywhere. Etrade is down.

Fri, 05/18/2012 - 12:21 | 2440509 insanelysane
insanelysane's picture

Going with the proven MFG excuse.  "Things were chaotic at the time and it is nearly impossible to know who bought what when."

Fri, 05/18/2012 - 12:16 | 2440467 DarthVaderMentor
DarthVaderMentor's picture

Sounds like a Ponzi trail cover-up. I wonder how many really bought FB?

Fri, 05/18/2012 - 12:16 | 2440468 lizzy36
lizzy36's picture

Sooooo hard to see why most "investors" have no confidence in this clusterfuck, formally know as an equity market.

Cannibalization continues.

Fri, 05/18/2012 - 12:46 | 2440596 GeneMarchbanks
GeneMarchbanks's picture

Is it possible The Morgue is so mired in the supposed spread trade clusterfuck that they can't even be market makers anymore?

Just tryna start rumours, that's all.

Fri, 05/18/2012 - 12:16 | 2440469 alien-IQ
alien-IQ's picture

Unless, of course, you lost money on the trade...then it is confirmed.

Fri, 05/18/2012 - 12:16 | 2440470 fockewulf190
fockewulf190's picture

Retail outflows are going to go ballistic next week.

Fri, 05/18/2012 - 12:17 | 2440473 Kastorsky
Kastorsky's picture

FACEPALM

Fri, 05/18/2012 - 12:17 | 2440476 Bunga Bunga
Bunga Bunga's picture

FAILBOOK

Fri, 05/18/2012 - 12:37 | 2440587 HardlyZero
HardlyZero's picture

In other words...the book opened and closed today on Fakebook.

Fri, 05/18/2012 - 12:17 | 2440479 zerotohero
zerotohero's picture

They need Sacha Baron dressed as The Dictator to ring the opening bell.

Fri, 05/18/2012 - 12:20 | 2440495 Cursive
Cursive's picture

@zerotohero

Too much credibility.

Fri, 05/18/2012 - 12:22 | 2440516 zerotohero
zerotohero's picture

How bout the cast from the new Three Stooges Movie.

Fri, 05/18/2012 - 12:49 | 2440602 HardlyZero
HardlyZero's picture

Should have hired The Most Interesting Man...he would have kept it up...and shot to 100 today.  Would have been cheap print...but no...they bring in the hoodie hustlers into the street...and they get their butts kicked ToTheMoon.

Fri, 05/18/2012 - 12:18 | 2440486 Cursive
Cursive's picture

I'm sure the wannabe buyers are OK with this now.

Fri, 05/18/2012 - 12:19 | 2440492 lsbumblebee
lsbumblebee's picture

without a trace book.

Fri, 05/18/2012 - 12:43 | 2440625 MsCreant
MsCreant's picture

Vaporized!

Fri, 05/18/2012 - 12:51 | 2440654 HardlyZero
HardlyZero's picture

Heard they used disappearing ink on their first printing.

 

Its GONE !  (face)

Fri, 05/18/2012 - 12:20 | 2440502 Debtless
Debtless's picture

What is this Facebook thing everyone's talking about?

Fri, 05/18/2012 - 12:56 | 2440688 blunderdog
blunderdog's picture

It's a book of mugshots of all our big bank CEOs....

In a SANE world.

Fri, 05/18/2012 - 12:20 | 2440504 Quinvarius
Quinvarius's picture

Schroedingers trade execution.

Fri, 05/18/2012 - 12:20 | 2440505 Dr. Engali
Fri, 05/18/2012 - 12:25 | 2440535 TMT
TMT's picture

"coming back off its low of the day"

Fri, 05/18/2012 - 12:20 | 2440506 emersonreturn
emersonreturn's picture

MBD, don't worry, you're in it for your grandkids, no doubt you are buying on the dips.

Fri, 05/18/2012 - 12:24 | 2440527 ebworthen
ebworthen's picture

He probably bought at $42 and will now have to hold onto it until Microsoft buys them at $2 a share in 2015.

Fri, 05/18/2012 - 12:20 | 2440507 Kali
Kali's picture

A whole new generation of potential  stock market investors scared off.  WTG wall street!

Fri, 05/18/2012 - 12:38 | 2440595 CrazyCooter
CrazyCooter's picture

Oh, you mean the 20-something/30-somethings loaded with student loan debt the size of a mortgage, unable to save (unless they live with parents), in an increasingly shitting job market? Those investors?

It's funny, but I kind of wonder how the older demographic, with all the assets, will unload them onto younger generations who they thouroughly fucked via a 30 year debt orgy. Younger folks can't afford a house anymore because student loans are the new mortgage. They also ain't going to be buying what pension companies need to sell to pay benefits either.

Just ranting because SVN is down at work and I am stuck for the moment ...

Regards,

Cooter

Fri, 05/18/2012 - 12:20 | 2440508 El Viejo
El Viejo's picture

Someone yesterday said it best and I LMAO :     FACEPLANT

 

Fri, 05/18/2012 - 12:22 | 2440510 ebworthen
ebworthen's picture

"We apologize for the inconvenience.  Your bid for 1,000 shares at $42 was placed after we cleared robot algo order sells of one million and one at $42.01.  Thank you for using NASDAQ.  Invest in America, buy more FB today!"

Fri, 05/18/2012 - 12:21 | 2440512 SilverTard
SilverTard's picture

So CIA Farcebook fails.... what a shame.  :)

 

Fri, 05/18/2012 - 12:22 | 2440517 insanelysane
insanelysane's picture

Herd meet cliff.

Fri, 05/18/2012 - 13:46 | 2440606 HardlyZero
HardlyZero's picture

We are ZYNGAaaaaaa !

Fri, 05/18/2012 - 12:22 | 2440519 kentfinance
kentfinance's picture

and ZNGA?

Fri, 05/18/2012 - 12:28 | 2440549 bdc63
bdc63's picture

down for the count ...

Fri, 05/18/2012 - 12:33 | 2440566 resurger
resurger's picture

Yup .. the PPT made it

It's Green guys

Fri, 05/18/2012 - 12:22 | 2440521 crawldaddy
crawldaddy's picture

when i grow up I want to be an algo.

Just surf the web all day and when asked I just scream BUY or SELL.  

ah to be an algo.

Fri, 05/18/2012 - 12:23 | 2440522 resurger
resurger's picture

green Here i come

Fri, 05/18/2012 - 12:23 | 2440524 TMT
TMT's picture

On a risk adjusted basis this crap would have to go 5x to make it worth it (to me).  I would prefer to sit at a blackjack table:  better odds, free drinks, and decent looking waitresses walking around with their tits hanging out.

Fri, 05/18/2012 - 12:23 | 2440526 moonstears
moonstears's picture

These "wall streeters" are brilliant, get the remaining 5% of individual retail investors(compared to say 1999) worked up to pay any price to get their hands on this hot item. Muppets will be pissed at paying say, $43, Monday, but "oh so glad" they're "in the game". Interesting times.

Fri, 05/18/2012 - 12:25 | 2440533 fockewulf190
fockewulf190's picture

Buy! Buy!, BUY!!! Get that stock up to $40 and hold it there goddammit!!!

Fri, 05/18/2012 - 12:36 | 2440536 VonSalza
Fri, 05/18/2012 - 12:26 | 2440541 Debtless
Debtless's picture

Look at gold & silver, the fucking champs that they are, completely ignoring this whole charade today.

Fri, 05/18/2012 - 12:36 | 2440581 tekhneek
tekhneek's picture

Oh, the real money? Yeah. They're fine.

Fri, 05/18/2012 - 13:16 | 2440756 Bizaro World
Bizaro World's picture

Thankful to the Tylers and fellow ZHers to be informed which help take advantage of the recent precious metals BTFD moment.  My earlier PMs were lost in an unfortunate boating accident.

Fri, 05/18/2012 - 12:26 | 2440543 TMT
TMT's picture

Did Corzine ring the opening bell?

Fri, 05/18/2012 - 12:43 | 2440618 HardlyZero
HardlyZero's picture

Since JPM and GS are somewhat like competitors...is it possible JPM was heavily shorting Farcebook ?   You should never farce it in too hard...ouch !  that must hurt.

Fri, 05/18/2012 - 12:27 | 2440545 crawldaddy
crawldaddy's picture

Beany Babies had more intrinsic value than this stock does.  AT least at the end of the day you could pile your overpriced worthless beany babies an dcreate a pillow of sorts. Bad web stock give you nothing but lost money and a 404 error.

Fri, 05/18/2012 - 12:28 | 2440550 Everybodys All ...
Everybodys All American's picture

Facelift - goes higher

Faceplant - goes lower

 

Vote please...

Fri, 05/18/2012 - 12:28 | 2440552 Trimmed Hedge
Trimmed Hedge's picture

Just mised $3 a share profit...

Fri, 05/18/2012 - 13:01 | 2440707 Matt
Matt's picture

If you bought into the IPO in Germany and sold at 50,000 euros, you would be up ~49,970 euros, unless a mulligan was called and the trade reversed. 

Fri, 05/18/2012 - 12:30 | 2440557 All Out Of Bubblegum
All Out Of Bubblegum's picture

$> ping us.etrade.com PING us.etrade.com (12.153.224.21): 56 data bytesRequest timeout for icmp_seq 0 36 bytes from etrade-fina.edge4.atlanta2.level3.net (4.30.52.206): Communication prohibited by filter Vr HL TOS Len ID Flg off TTL Pro cks Src Dst 4 5 00 5400 115d 0 0000 31 01 9939 10.0.232.100 12.153.224.21 Request timeout for icmp_seq 1 Request timeout for icmp_seq 2 Request timeout for icmp_seq 3 Request timeout for icmp_seq 4 ^C --- us.etrade.com ping statistics --- 6 packets transmitted, 0 packets received, 100.0% packet loss

Fri, 05/18/2012 - 12:46 | 2440633 catacl1sm
catacl1sm's picture

They may be blocking ICMP packets to help hold down traffic.

Fri, 05/18/2012 - 12:32 | 2440563 The Fonz...befo...
The Fonz...before shark jump's picture

FUCKIN NASWAQ

Fri, 05/18/2012 - 12:37 | 2440565 razorthin
razorthin's picture

I don't give a sh!t about FB, but let it be known that the Russell is being held desperately at the 200 DMA even though the SPX has 20 points to go.  And as it happens, IWM has reached its H&S target.  Watch closely...

Fri, 05/18/2012 - 12:33 | 2440569 Catullus
Catullus's picture

Great Muppet Caper

Fri, 05/18/2012 - 12:34 | 2440576 Flakmeister
Flakmeister's picture

Facethemusic.....

Fri, 05/18/2012 - 12:35 | 2440577 JamesBond
JamesBond's picture

like it or not, this is the 'face' of the new american economy

Fri, 05/18/2012 - 12:35 | 2440578 1835jackson
1835jackson's picture

How about you sit on my face and read a book

Fri, 05/18/2012 - 13:41 | 2440849 Strider52
Strider52's picture

I've been calling it FaceFuck for days now.

Fri, 05/18/2012 - 12:38 | 2440593 francis_the_won...
francis_the_wonder_hamster's picture

I placed two limit orders for clients at $42 and $41 on the Schwab Institutional platform.  Still haven't received a fill as of 12:37 EST.

Ridiculous.

Fri, 05/18/2012 - 12:39 | 2440599 francis_the_won...
francis_the_wonder_hamster's picture

Oh, and for the record, they were small orders (100 and 200 shares).....just play money.

Fri, 05/18/2012 - 12:39 | 2440597 TheCanimal
TheCanimal's picture

I had orders to sell at 38 or better for the open and got filled at 40.01 and 41.68 when it opened at 42.05.  I've challenged them and will pray for hope and change.

Fri, 05/18/2012 - 12:41 | 2440609 francis_the_won...
francis_the_wonder_hamster's picture

Sadly, I don't think you'll get anywhere.  With volume this high, the reported price of $42.05 is no indication of where the stock is trading at a given moment.  Even Level 2 is useless right now.

Fri, 05/18/2012 - 12:41 | 2440610 falak pema
falak pema's picture

nobody dances if the Nasdaq says "no quack quack".

Fri, 05/18/2012 - 12:41 | 2440612 Trimmed Hedge
Trimmed Hedge's picture

Anyone watching Level II?

Why has there been 1 share @ $3,800 at the bid for the longest time now?

Fri, 05/18/2012 - 12:42 | 2440617 ThisIsBob
ThisIsBob's picture

So far, FB is trading directionally lockstep with SPY.  So everybody just relax, the machines have everything under control.

Fri, 05/18/2012 - 12:43 | 2440620 slaughterer
slaughterer's picture

GOLD +.96%

FB + 8.08%

 

Fri, 05/18/2012 - 12:52 | 2440664 mt paul
mt paul's picture

face transplant

Fri, 05/18/2012 - 12:54 | 2440675 Thomas Anderson
Thomas Anderson's picture

bought a little today, 150 @ 40.14 market order 11:41, saw the machines holding it at 40.  So far the order is fine, but will see later.  Looking to sell soon for a profit, definitely way before the 60 days are up when the sell floodgates open.

Fri, 05/18/2012 - 13:24 | 2440788 Likstane
Likstane's picture

Ok, now they want 1 and 1/2 ozt of my precious silver for an electronic reciept that says I "own" 1 share out of a billion others of a "company" (started by a douchebag for douchebags)* to douchebaggerize with each other.  Not only that, but in 2 weeks I can trade that share for a quarter of what I give for it today.  There is also the added bonus of knowing I can contribute to the ease and comfort of some pukestain as he and the rest of the playaz juke it up in my whitehose. 

Hell yeah, what a great trade. /sarc

I think anybody trading in these thoroughly corrupt markets should factor in the possibility of getting corzined at any time in any trade from any account. 

*credit vast-dom

Fri, 05/18/2012 - 13:25 | 2440793 earleflorida
earleflorida's picture

mom and pop are going back to the farm. no more malls, no more main street, just green pastures that grow real things...

Fri, 05/18/2012 - 13:27 | 2440799 TWSceptic
TWSceptic's picture

Why did it stop als precisely 38 when it was dropping? Is it set to do that?

Fri, 05/18/2012 - 13:33 | 2440820 SilverTard
SilverTard's picture

Abbracadabra!

 

Fri, 05/18/2012 - 13:55 | 2440884 W10321303
W10321303's picture

FACEBOOK and McDonalds.....VOOODOOOOO Economics......Give 'em big tax cuts and what do you get......a BIG FAT ASS while you waste your whole day on your Narcissistic personality disorder (NPD) ....First formulated in 1968, it was historically called megalomania.....Who is the most HIGH profile egocentric VOODOOO withch DR. today?

ALAN SIMPSON, "Let 'em DIE!"   "Let 'em DIE!"  Cut Social Security and Medicare, we need to see some DEAD old ladies in the streets!

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