If my understanding of what you've told me is correct, it would appear that the oh-so-FAT FINGERS have gone and created......A CRISIS.
Do I read that correctly, sir?
I postulated this very thing the afternoon that it happened.
Demonizing Wall Street is nothing new. The markets are down because of the trading error, oil spill, and instability in Greece.
No such animal as a “coincidence” when it comes to this regime.
As one who is NOT given to getting off into the conspiratorialist weeds, I have to say that this looks VERY MUCH like market manipulation writ large.
H1N1 preceded the government/fascist Health Care takeover.
A somewhat large oil drilling leak is preceding a “no-drill” policy.
Could there be any question that this market manipulation is connected with the desire by those in Washington to take over the markets as well?
This is an insult to Richard Nixon. For all his faults, he loved his country.
the real truth is... all the traders on wall street are on a hair trigger. they know the game is almost up, and they are staying in for the last dollar.
when that day comes, 1,000 points will seem small.
"But the algorithms - that is, automated computer trading systems that represent the so-called "innovation" that the big banks want to make damn sure continue to skim off pieces of the productive economy for them, triggered off and drove enough SELL orders to collapse all bids.
"On a technical level what happened in the DOW is easy: NBBO, or national best bid and offer, was proved to be a JOKE.
"That is, when the NYSE specialist system went into "slow mode", which they do as a protective measure, electronic trading went around it into the "second market."
"That's nonsense - the premise of NBBO is that this is simply not supposed to happen, in that if I come to buy I'm supposed to get the best (lowest) offer, and if I sell I'm supposed to get the best (highest) bid. When NBBO is circumvented by computer systems that are allowed to "trade around" the specialists that have started examining what's going on you have a market that gets instantly gamed by the computers and in this case it caused a crash.
"Let me be clear: Any trader or investor selling got filled at $0.01 in Accenture yesterday while the NYSE had a higher bid, irrespective of whether it took them 30 seconds to fill you or not, should, if there are actually cops on the beat, be able to force the trading venue that filled them to make good on the difference that they were robbed of.
"Of course actually enforcing NBBO in this fashion would likely bankrupt every one of the venues and/or brokerages responsible for the 'reach around", so you can bet it won't happen - you, the trader or investor, will get hosed instead."
-- Karl Denninger
Remember TARP and how billions were being stolen and more if they say that hadn’t caught it. I bet Soros was there earning a lot illegal gains there too.
Wow, anyone who believes THAT was the cause of the "big Dow drop" has got to be dumber than a box of rocks.
Coco = nickname of Conan O'Brian.
Letterman = David Letterman.
If my understanding of what you've told me is correct, it would appear that the oh-so-FAT FINGERS have gone and created......A CRISIS.
Do I read that correctly, sir?
The exchanges know EXACTLY where those trades came from, and that it hasn’t gotten out who did it yet should be telling you a hell of a lot.
Somebody (China) sent a very loud shot (China) across Obama’s bow (China) on Thursday.