The "up-to-the-minute Market Data" thread

reply to post by Hx3_1963


I was expecting it yesterday, but instead we were insulted with the "fat finger" ploy.
If they "find" the market hacked, more power to the Cyber Security Force right?

reply to post by DaddyBare


It would be a great cover story if the SEC does find malicious
activity would it not?

Agreed, the market is volatile right now, multi level.

[edit on 7-5-2010 by burntheships]

G7 watching Europe, market volatility with concern
www.reuters.com...

(Reuters) - The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.

Canada is this year's chair of the G7.

Canadian Finance Minister Jim Flaherty would not discuss the substance of talks between G7 finance ministers and central bank governors early on Friday, but said his G7 partners were watching developments closely.

"We are concerned. We're consulting closely with our international partners."

FDIC Friday Kiddies!
www.fdic.gov...

Access Bank Champlin MN

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.5 million. PrinsBank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Access Bank is the 66th FDIC-insured institution to fail in the nation this year, and the fifth in Minnesota. The last FDIC-insured institution closed in the state was State Bank of Aurora, Aurora, on March 19, 2010.

The Bank of Bonifay Bonifay FL

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $78.7 million. First Federal Bank of Florida's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. The Bank of Bonifay is the 65th FDIC-insured institution to fail in the nation this year, and the tenth in Florida. The last FDIC-insured institution closed in the state was Riverside National Bank of Florida, Fort Pierce, on April 16, 2010.

[edit on 5/7/2010 by Hx3_1963]

reply to post by burntheships


Define malicious?

Did you hear the squawk audio from ZH yet?

Big Commercial Sellers in the Pit - Nothing malicious about it except they knew where to hit and when to. I am guessing as soon as they saw the thinning order book of bids they leveled everything they could find.

This allows them to punish the SP500 for very cheap in relative terms. Then they throw a buy limit to cover everything near SP 10xx. They most likely knew as most did that there would be many buy orders at the 200 DAILY MOVING AVERAGE.

I am sure they "reversed" there as well so they caught both ends of it. These guys push money around that can control markets for small time periods in thin markets.

Take a look at the bid/ask I posted a few pages back on the ES. The order book was as thin as it has ever been. Less than 100 contracts TOTAL on both sides when it picked up.

That means they had total control of what happened when they held all the volume for that 5 minute time period. They easily pocketed millions and millions of dollars off of this.

I am guessing it was a syndicate that waits for "these events" and saw a calculated window of opportunity. Like I said, I used to admire these guys until it hurt me haha. But it was another example, this was JUST LIKE DNDN if you remember when that happened early last year. I still do give them credit though, it takes a lot of balls and a lot of confidence to pull of what they did.

reply to post by Cabaret Voltaire


You are getting greedy again.

If we don't get the regular mutual fund monday and we do indeed push lower closer to the 200 DAILY MA you gotta unload.

We have at least 1 more bullish push.. It has to happen around the 200 MA. Don't let your ego take you out of this one. You are lucky, and yes it is luck, that you are back to even. Just learn from it and find something better to play tomorrow or for the future. There has to be a better opportunity somewhere.

GL

Feds trace flash crash to Chicago
www.politico.com...

Federal investigators probing the “flash crash” that briefly sliced nearly 1,000 points off the Dow Thursday are zeroing in on a series of “unusually high-volume” trades in S&P futures that originated in Chicago, a government official told POLITICO.

Those trades set off a chain reaction of trades that caused the biggest drop within a single day in the Dow Jones Industrial Average’s storied history.

Officials at the Securities and Exchange Commission and the Commodity Futures Trading Commission briefed Washington policymakers late Friday on their theory of what triggered the plunge.

According to the government official, investigators have traced the calamity back to the trades in Chicago, which were picked up by automated trading computers in New York. The New York computers in turn issued a series of sell orders, which had a cascading effect on the Dow as even more programs picked up on the trading and issued their own sell orders.

reply to post by Hx3_1963


They keep changing their stories.. first a bimbo with fat fingers hit the B key. Then Citigroup had a technical issue. Then the NASDAQ suffered some calamity. Then Obama says Terrrrist. then the SEC says some dude in Chicago somehow managed to tank the entire market.

In the end.. it all goes to automated trading. IF all computer modules decide SELL SELL SELL ....... is that called a flux, a minor discombobulation, an oh # I didn't mean that take it back please.....

Or is that trading of the day? If the "ah crap" moment was a 1000 point surge, would we be like well we need to investigate that... or would we be like ZOMG look at how wonderful the economy is!!

Just because the computers talking to each other say sell off, doesn't mean it was a flux.. the modules must have known what they were doing.. someone somewhere bought a crap ton of S&P Futures.. the effect on the market was the computers said sell. Nuff said.. no one should get their money back.

EDIT: ...... that is... unless it's a crime now to tank the market? Sell off your large volume of shares and be labeled a financial terrrrrist?

[edit on 5/7/2010 by Rockpuck]

reply to post by Rockpuck
Yeah I'm lovin' it...

These ~Bozo's~ can't get their I love Lucy stories straight...(or is that Threes Company?)...each is worse than the first

I agree though...the Robo-Traders did what they were programed to do...

...Didn't turn out like they planned, but, what the hay...now they can have a ~do-over~...



More FDIC Friday...

1st Pacific Bank of California San Diego CA

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $87.7 million. City National Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. 1st Pacific Bank of California is the 68th FDIC-insured institution to fail in the nation this year, and the fifth in California. The last FDIC-insured institution closed in the state was Innovative Bank, Oakland, on April 16, 2010.

Towne Bank of Arizona Mesa AZ

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $41.8 million. Commerce Bank of Arizona's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to all alternatives. Towne Bank of Arizona is the 67th FDIC-insured institution to fail in the nation this year, and the second in Arizona. The last FDIC-insured institution closed in the state was Desert Hills Bank, Phoenix, on March 26, 2010.

Total so far today from 4 Banks...213.7M

Regulators scour trades for clues to market plunge
www.google.com

NEW YORK — Regulators and Wall Street officials scoured millions of trades one by one Friday and canceled thousands as they sought to explain a record plunge in the stock market, undo the damage and keep it from happening again.

It wasn't clear how long the laborious process would take or if it would even solve the mystery behind Thursday's harrowing trading session that saw the Dow Jones industrial average fall hundreds of points and then recover, all in a matter of minutes. The chaotic slide — some stocks briefly fell to near zero — brought back memories of the darkest days of the financial crisis.

The Securities and Exchange Commission and the Commodity Futures Trading Commission were investigating but on the day after, there were more questions than answers:

_ Did a single trader mistakenly punch in the wrong number of shares when making a sell order, maybe mistyping "billion" instead of "million" and setting off a market-wide panic that at one point pulled the Dow down almost 1,000 points?

_ Did high-speed computerized trading systems that are supposed to make markets work smoothly go haywire, sending stocks into a nosedive?

_ Most important to anyone with money in the stock market: Could it happen again?

ETA: I finally got the feed from GBM's ~Bunker~
twitpic.com...

[edit on 5/7/2010 by Hx3_1963]

reply to post by Rockpuck


I am so sorry for your hardships, that is why I get so upset when the government wants to prop numbers like everybody that is not part of the elite groups are idiots. . .



[edit on 7-5-2010 by marg6043]

New regulations likely as stock dive probed
www.reuters.com...

(Reuters) - President Barack Obama said regulators will look for ways to prevent a repeat of Thursday's mysterious stock market meltdown, adding to expectations that the government will make new regulations to curb runaway computer trading.

But more than a day after a nearly 1,000-point drop in the Dow, the government had not publicly pinpointed the reasons.

Growing concern about the Greek debt crisis, exacerbated by a spike in the Japanese yen, may have caused computerized trading programs to dump U.S. stocks. Initial theories had focused on an individual trader erroneously entering an order, known as "fat finger" on Wall Street.

"The regulatory authorities are evaluating this closely with a concern for protecting investors and preventing this from happening again," said Obama, who called the selloff "unusual market activity" when he spoke to reporters on Friday.

Whatever the cause, the biggest-ever intraday point drop in the Dow stoked outrage among investors and politicians already up in arms over Wall Street's role in the global recession.

"We should expect the regulators to use every tool available to them to lower the speed limit on financial markets, and especially on banks," Mohamed El-Erian, chief executive officer of Pacific Investment Management Co, told Reuters Insider. "You will see regulation, taxation and enforcement all being used."

...Like they don't have enough on their plate already...geez...

[edit on 5/7/2010 by Hx3_1963]

reply to post by Hx3_1963


Ha

I actually finally got dual flatscreen's (I advanced into early 2000 tech) but I would prob. sit there and watch that trip out scene over windows media player all day instead of doing work if I had that many screens lol.

I'm always a decade behind.

reply to post by Hx3_1963


Concerning point to highlight!!!!

If Computer modules detected a spike in the Yen, weakening Euro, along with the huge debt crisis in Greek, as well perhaps as the run from European treasuries ... and dumped their stocks "erroneously"..

Shouldn't it be of concern to ... people? .. I mean, my laptop is smarter than I am, I only control where it thinks.. if I say ok computer, trade my stocks.. and the computer says I have compiled all the data and well, the # just hit the fan. I'm going to believe the computer. Especially... when EVERYONES computer said the same thing at the same time lol.

Originally posted by Hx3_1963
New regulations likely as stock dive probed
www.reuters.com...

(Reuters) - President Barack Obama said regulators will look for ways to prevent a repeat of Thursday's mysterious stock market meltdown, adding to expectations that the government will make new regulations to curb runaway computer trading.

But more than a day after a nearly 1,000-point drop in the Dow, the government had not publicly pinpointed the reasons.

Growing concern about the Greek debt crisis, exacerbated by a spike in the Japanese yen, may have caused computerized trading programs to dump U.S. stocks. Initial theories had focused on an individual trader erroneously entering an order, known as "fat finger" on Wall Street.

"The regulatory authorities are evaluating this closely with a concern for protecting investors and preventing this from happening again," said Obama, who called the selloff "unusual market activity" when he spoke to reporters on Friday.

Whatever the cause, the biggest-ever intraday point drop in the Dow stoked outrage among investors and politicians already up in arms over Wall Street's role in the global recession.

"We should expect the regulators to use every tool available to them to lower the speed limit on financial markets, and especially on banks," Mohamed El-Erian, chief executive officer of Pacific Investment Management Co, told Reuters Insider. "You will see regulation, taxation and enforcement all being used."

...Like they don't have enough on their plate already...geez...

[edit on 5/7/2010 by Hx3_1963]

What a load of crap! Sounds like they are running scared. A few more cliff dives like that and one of them is bound to never resurface after hitting head on bottiom!

www.thestar.com...


This is interestingly funny

Harper gave a strong endorsement of the bid by Croatia, already a member of NATO, to join the European Union, a move that could provide a boost to the nation’s depressed economy.

I find this really funny cause, this the same thing for what was said for Greece, if they joined EU it would give them a BIG Boost for there entire Economy, well they did join the EU and look what happened puff.


Croatia on the other hand is a different, they are been forecd to join to the EU, of course the ultra nationalist Croatians always wanted to be on there own very since WW2, even the Nazis promised them freedom

Now on topic, the reason Harper was in Croatia was for OIL, of course, funny how the visit the news media doesn't state for what reason, was his visit to the country, Croatia has an oil pipeline, which extends to bosnia.


Just so everyone, expect canada to be in the same debt problems as greece.


Canada wont boost Europe, its nothing but all talk and poses for the news networks.

Because the World elites are scared that the people will rise and fight.

[edit on 7-5-2010 by Agent_USA_Supporter]

Why the hell that dumbass Harper is putting his dirty neo-con hands in Europe's business?

I guess being a Bilderberg stooge ain't enough for him?

Harper, shut the hell up and go do your boring thing in the corner.

reply to post by Hx3_1963


European soviets in need of dollar funding?!! HA HA HA!!! We're going to get them on our hook with dollars... to buy their own stinking euros. America has beaten the entire globe. I really wonder sometimes if we do have Nazi UFO technology.

reply to post by GreenBicMan


Ohhhhh ho ho ho. We will see, grasshopper. We will see.
Do not underestimate the ancient magic.
Time will reveal the truth for us all to see.

I can tell you don't want to believe in the Google Bull sacrifice. Is it too offensive a reality for your tastes? Is it too obscene to believe that somebody at Google flashed up the warning sign in a secret language?

haha lmao
listen to this guys reaction when the Dow plummets

www.youtube.com...

reply to post by SpaceMonkeys
OMG! that is priceless...what a spin...

I love all this Doom hawking

A new conspiracy behind the now historical market plunge 2010

Did it was due to a new released book? that is making head ways to the top? Investigating President Obama that caused Thursday's stock market "flash crash"?

The conspiracies keep building momentum.

That satirical possibility was posed by a conspiracy website, which noted that a major advertisement for the explosive new book was blasted across Times Square prior to the crash, in which the stock market lost more than $1 trillion in 15 minutes before gaining most of it back.

"The Manchurian President: Barack Obama's Ties to Communists, Socialists and other Anti-American Extremists" officially was released Monday.

The brand-new title from WND senior reporter and WABC Radio host Aaron Klein and co-author Brenda J. Elliott skyrocketed to No. 1 on the non-fiction list at Amazon.com.

All I have to say is Whow!!!!! this is getting stranger and stranger, if anybody here wants to open a thread on this disturbing conspiracy be my guess and feel free to use the link

www.godlikeproductions.com...



[edit on 8-5-2010 by marg6043]

EU to Set Up Fund to Prevent Spread of Greek Crisis
www.bloomberg.com...

May 8 (Bloomberg) -- European leaders agreed to set up an emergency fund to halt the spread of Greece’s fiscal woes, seeking to prevent a sovereign debt crisis from shattering confidence in the 11-year-old euro.

Jolted into action by the sliding currency and soaring bond yields in Portugal and Spain, leaders of the 16 euro countries said the workings of the financial backstop will be hammered out before Asian markets open late tomorrow European time.

“We will defend the euro, whatever it takes,” European Commission President Jose Barroso told reporters early today after the leaders met in Brussels.

Europe’s failure to contain Greece’s fiscal crisis triggered a 4.3 percent drop in the euro this week, the biggest weekly decline since October 2008. And it prompted the U.S. and Asia to rally around in a bid to prevent a global sovereign-debt crisis from pitching the world back into a recession.

“Europe is getting its act together,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “Time will tell if this statement is enough to satisfy the European bond market vigilantes.”

European officials declined to disclose the size of the stabilization fund, to be made up of money borrowed by the European Union’s central authorities with guarantees by national governments. Finance ministers will meet at 3 p.m. tomorrow in Brussels to flesh out the details. A press briefing is scheduled for 6 p.m.

Plunge highlights fragmented markets, fast traders
www.reuters.com...

(Reuters) - The sharp fragmentation of markets and their reliance on independent trading firms took centerstage on Friday, with exchanges sniping at each other a day after a steep and mysterious market drop rattled investors worldwide.

The cause of Thursday afternoon's unprecedented plunge in the Dow Jones industrial average -- the DJIA lost 600 points in five minutes before markets eventually recovered most of those losses -- was still unclear.

But traders and exchanges said the reason it all unfolded so quickly was a lack of market-wide circuit-breaker standards that would halt trading, along with rule changes in the last decade that made the U.S. stock marketplace the fastest on earth.

William O'Brien, CEO of Direct Edge, which handles some 10 percent of all trading volumes, said: "The systems should have been closed down for a period of time, market-wide."

"It doesn't help that different markets operated differently," said Joe Ratterman, chief executive of BATS Global Markets, the third-largest exchange group.

Surging Libor-OIS And Cross Currency Basis Swaps Indicate Europe's Response Is Too Little Too Late
www.zerohedge.com...

Even as the immediate factor for the 1000 point drop in the Dow is investigated for the next several months by the SEC, a process which will likely not come to any reasonable market structure regulatory recommendation before the SEC is forced to analyze the next subsequent (and even greater) crash, the one primary fundamental cause for the sell off in stocks this week was the ever deteriorating situation in Europe. As the euro tumbled on Thursday afternoon, which we noted 20 minutes before the stock market crash began in earnest, as implied correlation algos went berserk, and as viewers were witnessing the near-warfare in Athens live, things just got too real for speculators (investors is so 20th century). Various computerized trading platforms merely kicked on (or rather, off) after the initial panic had already set in, and liquidity evaporated, leading to the implosion in the market. And the primary reason for the initial market pessimism early on Thursday was the fact that even as the whole world was listening to Jean-Claude Trichet to say soothing words after the ECB's rate decision, the central bank president once again did not realize the gravity of the situation. And to speculators, long habituated to Bernanke's endorsement of infinite moral hazard and speculative mania, the fact that someone refused to play "ball" and leave open the possibility that failure is still permitted in our day and age was the last straw. Now, 48 hours later, we learn that the rumors, which we reported about the ECB preparing a bailout fund, were indeed true. Our sense is that at this point the ECB's action is "too little, too late" as contagion fear has already crept deep within the fabric of various overt and shadow funding/liquidity mechanisms. Additionally, the world is now convinced that Europe can only deal with problems retroactively, and who knows how big and unfixable the next problem will be: the ECB, which has lost most of its credibility after "inviting" the IMF to do a heavy part of the bailout, is about to become the laughing stock of global central banks. Trichet is seen merely as a powerless bureaucrat, caught between Merkel's electoral struggles and Bernanke's demands for contagion interception and implicit Fed supremacy over Europe. The contagion from the "isolated" Greek fiasco is rapidly spreading. Here are some of the ways in which markets are about to be affected.

First, we present Evidence A of how the market reacted on Thursday to the critical (lack of) announcement by Jean-Claude Trichet. The chronological sequence of events culminates with Accenture trading at $0.01 and begins with rolling disappointment that Trichet had not received the "Global Moral Hazard" memo:

Sarkozy Will Get “Stuffed”
www.zerohedge.com...

It appears that the markets are in for some action next week. The EU leaders have pledged to put a package of measures on the table for the market to absorb by Sunday evening.

There are no details of what may be coming as of yet. This is happening so fast that I doubt they actually have a plan. What plans they will come up with are all going to be short term fixes for the excessive volatility we have seen.

We know from an article by Jon Hilsenrath at the WSJ that the US Fed has opened existing swap lines to the ECB. This means that intervention in the currency markets is coming. I wrote about this last week. My thinking is the same today. If the ECB has a “Go it alone” plan to intervene in the FX markets it will not work for long. Only coordinated intervention including BOE and the US Fed will have anything but a short-term impact. Therefore it is critical to see who is going to be involved come Monday.

There a number of news leaks that suggest that a Euro 600 billion emergency lending facility will be put in place to support Europe’s 1,000 banks that are in need of some “Fast Cash”. This is terrible news. This just confirms that those same banks were facing a liquidity crisis at week's end (AKA- A run on the bank). While E600b is a big amount of money it is a drop in the bucket when it comes to the total funding requirements in Europe. The question will quickly arise, “What happens when the 600B is gone?” This is quite different from the TARP approach where equity was thrown at the banks. That equity had a 10-15X’s leverage affect. This is just a new funding source. It does nothing to address the quality of the assets being funded.

What is missing from the leaks from the EU is a plan to buy distressed sovereign debt in the public market to absorb the excess supply and beef up prices. We know there is pressure from the Banks to have this happen. They are sitting on underwater sovereign bonds. These are public securities with a massive float. I don’t think the ECB has the resources to make much of a dent in the bond market. It is much bigger than they are. If they drive the prices of sovereign debt higher it is likely that they will get offers for more than they could possibly buy. There may be some demand from global investors for Spanish debt at 6%; there will be no private demand if the rate is artificially set at 4%. The higher they drive up bonds the more sellers they will meet.

On the issue of buybacks one has to ask, “Where will they get the money?” A credible buyback would have to start at Euro 500b. Is Germany going to backstop that? I can’t believe that they will. If they do, their debt cost will just rise and nothing will have been accomplished. My worst fear is that in order to finance the buy ins they look to the Federal Reserve Bank in NY to provide dollar based funding.

Much more at links...

[edit on 5/8/2010 by Hx3_1963]