Goldbug Journal

Overnight said:
Look at it this way.

Spoofing must cause some damage to the market participation, in some complex way. If it did not, why would they have a rule not allowing it? Like on the SEC side...What it is with the "uptick" rule? I do not know the ins and out of that one, but there must be a REASON for it on short-selling?
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Uptick = Obviously, to add a damper to market selloff.

Spoofing is not anything new. It's been around for ever. People were spoofing long before they introduced the regulation. During the heyday of dot com era, they were spoofing like crazy. And yet nobody complained. All of a sudden, regulators believe this is damaging to our collective market psyche? Please.

Consider the Flash Crash. They couldn't come up with anything plausible, so they went after an Indian dude living in UK under the pretense of spoofing. Personally, I don't buy it. There are too many loose threads.
 
BTW just how may times do I have to tell you this? (I'm not shouting, just making a point)

INSTITUTIONS NEVER REVEAL THEIR LARGE ORDERS.

If you see LARGE orders, they're usually fake.
 
schizo said:
Uptick = Obviously, to add a damper to market selloff.

Spoofing is not anything new. It's been around for ever.
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Murder had been around forever, and finally people thought it was wrong and made a rule about it, because it disadvantaged the victims. (Yeah, I know that is an extreme example).

Consider the Flash Crash. They couldn't come up with anything plausible, so they went after an Indian dude living in UK under the pretense of spoofing. Personally, I don't buy it. There are too many loose threads.
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Well, if the Flash Crash was caused by a single guy who was spoofing, don't you think it would be best to prevent that from happening again?

You say you do not buy it. Well, were you there, seeing the market internals in realtime, when it happened? Can you truly say YOU know why it happened? If not, let the folks who are in the guts of the engine day in and day out work out a way to keep it from happening again. If they say spoofing was the cause, who are we to argue? We're not the ones inside the guts of the machine, seeing how things work!
 
schizo said:
BTW just how may times do I have to tell you this? (I'm not shouting, just making a point)

INSTITUTIONS NEVER REVEAL THEIR LARGE ORDERS.

If you see LARGE orders, they're usually fake.
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And that is spoofing, which is illegal. Why would a LARGE order be posted by an institution, if they never intend to have it executed? WHAT IS THE POINT OF PLACING THAT ORDER IN THE FIRST PLACE?
 
I thought this was just some trading thread. I see it is Schizo's new journal. Well! We shall see then! Will this be a real journal, or just a blow-off point for nothing but flipping, and he will keep posting in B1S2's journal, where he is comfortable?

Schizo, I am telling you, you will have the second -most viewed journal on ET with your flipping script deal, after B1. Don't be frightened or intimidated by it. DO IT!
 
Overnight said:
And that is spoofing, which is illegal. Why would a LARGE order be posted by an institution, if they never intend to have it executed? WHAT IS THE POINT OF PLACING THAT ORDER IN THE FIRST PLACE?
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What I meant was that you shouldn't be so naive to think those large order are legit. Be a damn cynic for once. I swear too many traders are too damn naive. They wanna believe anything.
 
schizo said:
What I meant was that you shouldn't be so naive to think those large order are legit. Be a damn cynic for once. I swear too many traders are too damn naive. They wanna believe anything.
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Aye, that is the point, AGAIN. If the orders are not legit, why are they being placed at all?
 
Overnight said:
I thought this was just some trading thread. I see it is Schizo's new journal. Well! We shall see then! Will this be a real journal, or just a blow-off point for nothing but flipping, and he will keep posting in B1S2's journal, where he is comfortable?

Schizo, I am telling you, you will have the second -most viewed journal on ET with your flipping script deal, after B1. Don't be frightened or intimidated by it. DO IT!
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I just need you to egg me on a bit further. While you're doing the cheerleading, won't you do those back flips that I love. Atta, boy.
 
Overnight said:
Aye, that is the point, AGAIN. If the orders are not legit, why are they being placed at all?
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Why you asking such a naive question? You think mafias commit murder not knowing it's illegal? ("Oh, I'm sorry, I didn't know.")
 
Everyone speeds. "I don't". Going only 68 in a 55 zone is still speeding.

Same with spoofing. Changing a bid to an ask or from 1 contract to 3 etc is spoofing.

The only ones who are hurt are those trying to trade at the same speed (that word again) or same level as the algo's.

The Gubmint listened to a bunch of whiners and made a rule ... now stop that this instant or else!
 
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