Posted on 05/07/2010 6:02:41 PM PDT by Nachum
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.
(Excerpt) Read more at politico.com ...
wow imagine that
Maybe the folks running the VIX wanted to see a little more action. They certainly got it.
I want them Dem party to have a “flash crash”
Chicago, imagine that.
Hmmm is right...where is Soros usually?
Nothing good ever comes out of Chicago -— man, beast or deed
Another revision to Glenn Beck’s blackboard is in order. I don’t need to read this article.. “Chicago” tells me everything I need to know.
“Chicago” is code word for “Time for the Obammy Administration to cover-up what REALLY happened.”
I think someone shorted some stocks and decided to make it a profitable position.
Chicago?
What happen to the markets back in Sept 2008 also happened through Chicago. CBOE, CME where credit swaps go through. The names and ownership have changed but a lot goes through their plus the carbon exchange for CO2.
Could this be a test so that certain hedge fund managers would find out exactly what would happen when the market does crash so they can capitalize on it?
Look for the real thing about a month before the November election. Why not...it worked in 2008.
Some big high frequency trading firms are in Chicago. Undoubtedly 0bama donors??
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But “algo-trading”, and the rise of so-called “high-frequency” traders that often use it, is so pervasive that some suspect it may be hard to see how ordinary investors can be expected to trust market structures in which they have placed their faith for decades. Instead, they seem to serve the interests of short-term traders using the latest computer wizardry.
More than half the US equity markets involve the use of a form of algorithmic or high-frequency trading. That is a huge increase since the 1987 stock market crash, where programme trades were blamed for exacerbating falls.
Moreover, trading takes place not only on the main exchanges - the New York Stock Exchange and Nasdaq - but on a plethora of other platforms, including “dark pools” and systems operated by brokers themselves. Less than 35 per cent of trading in NYSE-listed shares actually takes place on the New York Stock Exchange these days.
The speed of trades is mind-boggling. Last month Algo Technologies, a US company, unveiled a system that can handle a trade in 16 microseconds.
Stock exchanges are courting “algo” traders, eager to attract business away from rival platforms.
For most ordinary investors the idea of an exchange is still the neo-classical facade of the mighty NYSE on Wall Street. But in reality, most shares change hands in vast data centres. One of them, the size of three football fields, opened for business this week in Basildon, UK, built by NYSE Euronext, owner of the New York exchange.
I sense some possible protectionism.
OFCOURSE CHICAGO would have SOMETHING to do with this. Think we will ever know WHO is behind this?
oops, projectionism
Would that not work AGAINST Obama?.. or would it be spun as further vilifying “those evil right wing Wall Streeters”. Even in that scenario, it would still work against Obama due to his failed Wall Street reform which would’ve taken effect by then. One can only hope. LOL
bfl
Mmm. MMM. MMMMM.
There, it's corrected.
I can’t imagine Obama knowing much about the market so someone is feeding him for him to even suggest sabotage.
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