Market is broken
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I feel like I'm pissing in the wind because I'm such a noob, but there is no one but computers in this market. They have squashed out the daytraders but the floor is gone. Traders should have replaced the floor. Instead they gave it to computers who just shut off. It's just aggravating. Well whatever, Wall Street is killing the average joe because they won't let traders come in. We get crapped on with regs, frontrun... stopped out in meaningless anti-technical moves.. I mean the exchanges are crying for half cents now!! F them. I hope to hell Joe Six pack goes away after he got raped yesterday. There is hardly any of us left. So these stupid bots can f each other all day long. And when the market isn't ...just right... for skynet to steal pennies, I guess the market will just close. F them. Come on Gov, gimme another hoop to jump through. And then suck on it.
Well said. There are only a few true liqudity providers in this market. Institutions that have invested 100s of millions in hft are not liquidity providers, they are the ones who have created the situation we are in with 70% of daily volume attributed to hft. They can take their system down offline all at the same time when large flow comes in. What happens when all trading volume is hft? I expect limits are going to be tighter on futures say 3%(10 years ago after the nas bubble burst limit down was 5%.
Rookie? The reason for the "swoon" was the NYSE stopping trading and orders are routed to less liquid markets! The market can handle all the orders they want on the upside....but now the "specialist" have to stop trading on the downside?
Futures market handled it 100%. For every buyer, there is a seller. There are thread's here with audio from the S&P Pit. Real paper sellers from the big houses.
The fault is at the NYSE period! No fat finger, no HFT, nada! If you can't take the heat, then you shouldn't be in the kitchen = NYSE.
There in no fraud, conspiracy, fat finger, HFT box, etc. The biggest market is the NYSE...they take a "time out", orders are routed to other markets. That's it. Simple.
This is a NYSE problem.
Stok is correct. Moves like yesterday go with the territory. When one signs up with a broker you may read something like "risk of substantial loss . . ." Days like yesterday is what they are talking about.
Which is why one should use money they can afford to lose. Because you probably will. And I have.
Which is why one should use money they can afford to lose. Because you probably will. And I have.
this market is extremely dangerous. when the market can turn on a dime and drop 200 points in minutes its time to sit on your hands. when we see this kind of insane volitility,that shows me the market is scared and its going down further. this is'nt your garden variety pull back.
quite frankly,i don't think the market buys the sustainability of this economic recent economic data.
quite frankly,i don't think the market buys the sustainability of this economic recent economic data.