One Nation, Two Systems

We've seen it in our politics, the application of the rule of law, the lock downs, and in our bail-outs.

I have often said we are emulating the Chinese model.

Then I read the following article, which cements in my mind the truth of that phrase.

N asdaq CEO Suggests Halt to Trading to Allow Big Investors to ‘Recalibrate Their Positions’ to Combat Reddit Users

Nasdaq CEO Adena Friedman suggested Wednesday that her exchange could halt trading activity for stocks to enable investors to “recalibrate” in the event they were targeted by internet users.

She made the comment in a Morning interview with CNBC’s Joe Kernen, speaking in reference to price surges inspired by Reddit users. Members of the website’s “WallStreetBets” forum caused stock prices to surge to obscene heights this week for companies including GameStop and AMC Theatres.

“I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals — what we do is we do have technology that evaluates social media chatter. If we see a significant rise in the chatter on social media channels … we also match that up against unusual trading activity, [and] potentially halt that stock to allow ourselves to investigate the situation, to be able to engage with the company, and to give investors a chance to recalibrate their positions.”

That's a pretty remarkable statement. So in other words, we will help the hedge funds, because the little guys found a way to gain.

WOW! Just WOW!

They literally are saying they will pick the winners!

# storm incoming, imo.

a reply to: loam

# storm incoming, imo.

#doubt it

#secondline

originally posted by: loam
We've seen it in our politics, the application of the rule of law, and in our bail-outs.

I have often said we are emulating the Chinese model.

Then I read the following article, which cements in my mind the truth of that phrase.

N asdaq CEO Suggests Halt to Trading to Allow Big Investors to ‘Recalibrate Their Positions’ to Combat Reddit Users

Nasdaq CEO Adena Friedman suggested Wednesday that her exchange could halt trading activity for stocks to enable investors to “recalibrate” in the event they were targeted by internet users.

She made the comment in a Morning interview with CNBC’s Joe Kernen, speaking in reference to price surges inspired by Reddit users. Members of the website’s “WallStreetBets” forum caused stock prices to surge to obscene heights this week for companies including GameStop and AMC Theatres.

“I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals — what we do is we do have technology that evaluates social media chatter. If we see a significant rise in the chatter on social media channels … we also match that up against unusual trading activity, [and] potentially halt that stock to allow ourselves to investigate the situation, to be able to engage with the company, and to give investors a chance to recalibrate their positions.”

That's a pretty remarkable statement. So in other words, we will help the hedge funds, because the little guys found a way to gain.

WOW! Just WOW!

They literally are saying they will pick the winners.

# storm incoming, imo.

Yeah, that is some bullsh*t. The market certainly doesn't stop when the little guy get's caught with his pant's down on a trade. It shows you how rigged the market can be.

You get these massive funds investing money in all kinds of coders, front running orders, high frequency trading, etc... doing everything EXCEPT actual investing and reading the tea leaves.... a bunch of little guys figure out how to game the system and now all of a sudden they need to "recalibrate"?

a reply to: myselfaswell

A market correction is inevitable. When is the only question.

I think telling participants you're going to choose the winners could be the catalysts for many to take their toys, go home, and wait for a better day.

It's not going to take much to pop this beast of a bubble.

a reply to: loam

rules for thee, not for me.

My shocked face.

a reply to: network dude

It's at the point where one has to ask where this isn't true?

It’s a rigged system, and not in our favour.

Social media is not our friend either. It’s a marketing department’s wet dream, though.

a reply to: Edumakated

Before anyone else come's in being all surprised/disappointed waving their fists .. this is bullsh!t......I would like to remind you of something.....

YOU ARE NOT IN THE CLUB

How often do you need to be reminded?

a reply to: loam

The news is a very important piece to this country but if we can't get them to go back to reporting unbiased reports and covering stories unbiased then this country is lost and the only way out is to secede.

A journalist's job is to report the news and let the people decide which way to feel. They've been an extremely dangerous part to this division. It's sad.

originally posted by: myselfaswell
a reply to: Edumakated

Before anyone else come's in being all surprised/disappointed waving their fists .. this is bullsh!t......I would like to remind you of something.....

YOU ARE NOT IN THE CLUB

How often do you need to be reminded?

I've never had any illusions about being a member of that club...

a reply to: loam

I actually worry about why they are so open about all this. It used to be hidden so you could deny it at least on the surface, but the new tricks seem to be do whatever the # you want, and just pretend it never happened when asked. When you own the media, and big tech is caressing your gonads, I suppose it leads to a brazen approach to things.

One day, a smart guy will come along, and figure out a way to bankrupt these idiots.

In the old days, you could just shoot them, but ammo is so damn expensive, it's not worth it.

The Reddit Game Stop stock market squeeze is a refreshing blast of positive novelty. If the lizards don’t figure out how to stop us this will evolve into a new kind of decentralized global democracy where we use the stock market to control politicians controlled by corps. twitter.com...


Lets flip the game on them.

Lets bankrupt them all.

a reply to: network dude

How open all of this has become is absolutely amazing.

I'm reminded of that meme that asks for new conspiracy theories, because "all of mine have come true."

Crazy times.

Excellent rant by Tim Pool.

Hang on, let me get my surprised face on, it's around here somewhere.

If the market didn't react to things like twitter and Reddit posts in the first place, this wouldn't be an issue.

The the real question is "Who the hell is reacting to this enough to drive the market???"

a reply to: loam
This is why people put the word out to buy silver.
Halt trading when the bad guys are losing and silver will go up afterwards.

You'd think the professional crooks would have realized that the same tricks they use to manipulate markets would eventually get used by a crowd-sourced entity like Reddit.

Wall Street was greedy enough to take day trader money for decades and didn't stop to think that the day traders were picking up on the nuances of the game the whole time?

I'd laugh if I didn't understand that the mantra on Wall Street is "privatize the gains and socialize the losses" and that we'll probably see the government bail them out instantly - even as bailing the People out sits and evaporates on the back burner.

a reply to: Hefficide

I saw a game developer comment on a news article he was surprised it took this long for gamers to figure out exploits in the market.

It makes sense that reddit nerds focused their strength in numbers. It didn't help the hedge fund left themselves idiodicly exposed.

originally posted by: CriticalStinker
I saw a game developer comment on a news article he was surprised it took this long for gamers to figure out exploits in the market.

They figured it out years ago. This is the first time they shared for the others to play.

This is not a new game for those that are leading the charge.

originally posted by: Hefficide

You'd think the professional crooks would have realized that the same tricks they use to manipulate markets would eventually get used by a crowd-sourced entity like Reddit.

Wall Street was greedy enough to take day trader money for decades and didn't stop to think that the day traders were picking up on the nuances of the game the whole time?

I'd laugh if I didn't understand that the mantra on Wall Street is "privatize the gains and socialize the losses" and that we'll probably see the government bail them out instantly - even as bailing the People out sits and evaporates on the back burner.

Cronies at Citadel and Point72 put up $2.5 billion to help out Melvin Capital which was the fund that lost their azz...