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Think about that for a second though: ES is up 50 pts in the European session. Obviously this is post-selloff bounce, but if ES were doing 50 pts of range a day that'd be sick. Previously people were happy with 10-20. I welcome our new volatility - as long as some liquidity shows back up with it...

Garbage liquidity in ES right now, look at the book totals.

I'll just be happy if we can keep VIX above 20 for the remainder of the year.

Yes. Nikkei, Hang Seng, Korea, and Taiwan. Bloomberg Asian indexes in google search if you don't have data.

I hope I'm not the only one who felt unprepared on what plays to make today. Felt like I just didn't plan out possible scenarios enough and was partially content to just observe.

Got long 1895 for a runup to 1923. As rickshaw would say: WELL OFF THE LOWS.

I won't touch YM or NQ right now. Even ES is kinda hokey. It's almost like a ton of bot liquidity just got turned off - which is strange because you'd think there'd be more of it right now. Maybe I'm sinply overestimating the bot to human ratio in the book.

I don't think this was a black swan. I do think the severity of the drop was quite a surprise though. I think we're also conditioned to constant BTFDers stepping in and ending any bear party so to see a real continuation of selling for 3 days straight was a surprise within the prior market context.

Lot of opportunity today - but also lots of opportunity to be hung out to dry. The liquidity was absolutely atrocious. One amusing thing I noticed, however, is that liquidity in TF was deeper than NQ pretty much all day. Usually it's the reverse of that if I'm not mistaken. NQ's illiquidity was...

If my measurements are correct, it appears NQ hit limit down *twice* today. Is that right?

So what was up with the open btw? Margin calls?

1300$ on GC earlier before the craziness started. Personally market looks kinda sketchy to trade IMO. ES liquidity is ass.

Something to consider is that's only because the market dropped before the Fed did anything. An alternative way of looking at it could now be that the market has priced in a Fed rate increase - which was widely thought to have a "negative" effect on the market on actual announcement. Now that...

It's just a minor double bottom (W). London isn't even here yet.

Yep, and many of the current investor crop also forgetting what it looks like - who might then react a bit rash. Yellen might need to get her X_Trader up by Euro session or Monday might be threes a charm.

Nothing wrong whatsoever with funds investing in equities. That's not what I'm saying at all. I'm saying angling for local governments to do it NOW probably ain't the best idea.

Gotta wonder how Karen the "super" trader is doing about now. Maybe she was smart and quit while ahead. Meanwhile Niederhoffer continues to tweet quasi-indecipherable musings.

Definitely.. when I look at it - it's like, "this is just straight selling." Now down here from 1913-1920 it looks like there's a bit more support, but I'm still paying attention to the ebola land below us: Look at that selloff, just brutal.

"funds managed by local governments" FUNDS vs individuals man, c'mon. Do you really think it's a good idea for China to be basically saying "hey pension funds, go ahead and invest in the market." right now?

China is just fucking reckless. All this just to save some face and try to slow down the inevitable.